ASAN - Double Top

NYSE:ASAN   Asana, Inc.
Price has twice bounced off resistance at around $70 forming a double top patten. This signifies a reversal of the prior uptrend and we could see downside unto at least $61 before price finds significant support. MACD also indicates an impending drop in price. Look to enter a short position at market open tomorrow. PT#1 is $61 and PT#2 is 50; place a stop loss just above entry at about $71. This position could pay especially if the broader market drops over fears of a brewing war.

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.