Box Got Crushed: Here's My Long Trade
InTheMoneyStocks.com | Aug 30, 2018 01:10PM ET
Leading cloud-based content management company Box (NYSE:BOX) sold off Wednesday by nearly 10 percent after reporting earnings. Traders should note that the stock is now trading below its important 50-day moving average and is now testing the pivot-low area from August 2, 2018 around the $23.23 level. A daily close below this important support area would signal another decline for the stock.h3 Watch This Support/h3
The next key support area for BOX is around $21.50. That's where it broke out in April 2018. I will be watching the stock for a long-side trade when the shares trade down to this level.
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