Smartsheet ended the session at $38.83, continuing its bearish run

Smartsheet's downtrend has seen it decline 24.84% in 4 days Friday's session continued down the same path: an influx of sellers pushed the project management software company to end the session lower around $38.83, while establishing a $38.66 to $41.69 session range Friday.

Smartsheet Inc. made an initial break below its 200 day Simple Moving Average at $39.49, a possible indication of a forthcoming negative trend. On the other hand, note that Bollinger Bands® shows an indication of recovery: the lower band is at $39.62, a low enough level to, generally, suggest that Smartsheet is trading below its fair value. Smartsheet could begin to recover as it approaches significant support, now $1.03 away from $37.8. Dipping below could be an indication that further losses are ahead.

Overall, looking at the technical analysis landscape, it seems that although indicators are mixed and some are pointing in different directions further drawbacks may be next for Smartsheet.

On the other hand, positive performances could be seen by looking at other technology stocks as Adobe traded at $454 after closing Friday's trading day at $439.03 (up 3.41%). TSM traded at $102.8 after closing Friday's trading day at $99.94 (up 2.86%).

Furthermore, United States Consumer Price Index is expected tomorrow at 12:30 UTC. United States Core Consumer Prices figure is projected at 0.4%. It previously stood at 0.4%; data will be released tomorrow at 12:30 UTC. United States Consumer Price Index is expected tomorrow at 12:30 UTC.

6 days ago the project management software company reached a significant high of $51.66 but has consequently lost 21.72% since then.