Box (NYSE:BOX) is a cloud-based storage provider that went public in February 2015. Last night, the company reported earnings that were less-than pleasing to the street. Today, the stock is trading lower by more than 10% to $24.82 a share. Traders should note that BOX was forming a bullish base before the earnings announcement. That pattern could be broken today. A failure of the pattern should indicate further downside in the near term.
Support
The next important daily chart support Box is around $22.50, which is where the stock broke out in late April 2018. This trade level should be solid support when initially retested.