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Asana, Inc.

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ASAN trade ideas

Lots Of Interesting Sector Moves Going OnMorning all! Just wanted to post quickly about the recent sector rotations going on, and the overall market selloff. Typically we post our sector updates on Tuesday, but the market continues to selloff so some might get some use out of this directly. Clearly, the focal point of the market is rates, which have been climbing on stubbornly high inflation. Supply snarls and the energy crunch have cropped up before the supply chain issues could dissipate (and thus reduce prices for goods), and now we are at a point where the market is pricing in higher inflation and a quicker taper than expected - hence the high multiple tech selloff. And, given that high multiple tech is like 30% of the indices, it's easy to see why we are where we are over the last month. We think that *all* of this will ultimately clear up over time, but that energy and financials, two sectors that do well in value-tilted/inflationary periods, are most favored at the moment. We think that super-macro deflationary headwinds will prove too hard to defeat in the long term, but that that doesn't matter on a day like today. In times like this, we are sticking like glue to our capital flows models, despite the long term thesis. We'd rather make money than be right. We are not bidding for any tech stocks anytime soon, but expect to be doing so should the market continue down 10-15% more, especially in the ARKK high mult arena. Some interesting names we like include: $TTD, $NET, $CRWD, $MKTW, and most of the semis.
NYSE:ASANShort
by PropNotes
5
ASAN - Consolidation HTF candidate (8/31/21)ASAN is a Hight Tight Flag candidate and is currently in the consolidation phase of the overall pattern. If you look on the lower timeframe you can very easily see the stock contracting making higher lows. ASAN has finally allowed the EMAs to catch up and has seen the 23EMA act as strong resistance multiple times. We are seeing volume dry up and I believe this will be ready for its next leg up soon. The stock has corrected very little in the consolidation phase and has actually made its way higher. Bear case: not showing any volume recently but the stock did just go on a 100%+ run so it needs some time to digest its large gains.
NYSE:ASANLong
by huntersanna33
4
Revisiting ASAN short side bearish divergenceIn late June, I identified a bearish divergence and targeted the mid to low 50's. This clearly didn't come together, and quickly became a broken trade for a loss -- but what has remained is the same bearish divergence -- RSI making lower highs while the stock makes higher highs. And now we could be forming a rounded top. With earnings around the corner (sep 1?) I could see this consolidating and making it's move post earnings, but it seems to be very tired here. I'm taking another shot going short with a small position on the sep 80 puts; still targeting that 50 area.
NYSE:ASANShort
by tacosaurus