Asana is the best performing cloud stock this year. The I/O Fund discusses how they identified this opportunity by using a blend of fundamentals and technicals to remain with the stock through the growth selloff. I/O Fund also added to the position in May for an 85% gain in under a month.
In February, the I/O Fund entered Asana (ASAN) and we held this position through the growth rotation, On May 20, we added to Asana (at $33.25) as a momentum play and held a webinar explaining our entry.
- It was confirmed that Asana was outlining a common uptrend pattern that we see with tech growth.
- Others, such as Roku, Datadog, Nvidia (overlapping uptrends), have followed this pattern as well.
- We saw some significant bullish patterns within the volume, which typically leads a breakout. We were getting evidence that “smart money” was accumulating shares at these levels.
- On top of our entry at $33.25, and identifying another buying opportunity at $34.50, we alerted subscribers that a breakout above the all-time high ($44.00) would also be a good entry point.



