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Possible Bullish Inside Day Candle Pattern Detected for Box Inc- Class A (NYSE:BOX)

By David Diaz

SmarTrend's candlestick scanner has spotted a possible bullish inside day candle pattern in Box Inc- Class A (NYSE:BOX) based on the price action in the company's shares. Yesterday's price range of $16.55 and $16.93 is within the prior day's high and low of the day. This trading action often signifies indecision by bulls and bears to drive prices higher or lower and often implies a possible change in trend. Traders and investors interested in shares of Box Inc- Class A may want to consider an appropriate entry level in the event a reversal to the upside transpires. It is important to look for confirmation.

Box, Inc. develops Internet applications software. The Company operates a content sharing platform that enables users to share, access, and manage content in the cloud, as well as provides mobile access, file storage, and online collaboration solutions. Box serves customers worldwide.

Box Inc- Class A (NYSE:BOX) has potential upside of 55.6% based on a current price of $16.92 and analysts' consensus price target of $26.33. The stock should hit resistance at its 200-day moving average (MA) of $17.63, as well as support at its 50-day MA of $16.73.

In the past 52 weeks, shares of Box Inc- Class A have traded between a low of $12.46 and a high of $24.92 and closed yesterday at $16.92, which is 36% above that low price. Over the past week, the 200-day moving average (MA) has gone down 1% while the 50-day MA has remained constant.

SmarTrend is tracking the current trend status for Box Inc- Class A and will alert subscribers who have BOX in their portfolio or watchlist when shares have changed trend direction.

Keywords: bullish am inside day candle box inc- class a

Ticker(s): BOX