Nicholas Santiago
InTheMoneyStocks
Thursday, May 31, 2018
Box Inc $BOX Gets Crushed, Watch This Trade Level
Box Inc (NYSE:BOX) is a leading cloud based storage provider that came public in February 2015. Last night, the company reported earnings that are not being well received by the street. Today, the stock is trading lower by more than 10.0 percent to $24.82 a share. Traders should note that the stock was forming a bullish base before the earnings announcement, that pattern could be broken today. A failure of the pattern should indicate further downside for the stock in the near term. The next important daily chart support level for BOX will be around the $22.50 area. This is where the stock broke out in late April 2018. This trade level should be solid support when initially retested.
