August 26 Chart of the Day - Box

Precision oriented price action technical analysis by far provides the best edges and most setups for traders and investors across the markets so that's what we use for the basis of our reviews

Box, Inc. (BOX) develops and markets cloud-based content management, collaboration, and file sharing tools for businesses.

The company has over $1B in annualized revenue and reports earnings after market close on Tuesday so we wanted to review their chart from a price action technical analysis perspective.

We have featured over 250 Charts of the Day since May 2023 and teach Price Action Trading for FREE  to traders who join our Highly Rated Trade Room.

Monthly Chart 

On the monthly chart we can see that after setting its $34.98 all time high (ATH) in the spring of 2023 price faded back down to the $23 area.

Since then, price has bounced slightly and seemingly deciding whether to continue upwards or fall back to the downside.

Weekly Chart

 
On the weekly chart we can see with much more clarity the fall from ATHs, and the recent bounce back up.  The bulls are attempting to make a series of higher highs and higher lows.

We can also see price has established a "change control zone" (gray rectangle) roughly between $26.50 and $27.50.

Change control zones are one of the five price action tools we teach when charting anything.  By definition, they are an area that represents where neither the bulls nor bears are in charge.  Price can slash though the zone with seemingly reckless abandon, price can respect the top or bottom from outside it or within it.  Or, price can trade aimlessly sideways within it.  When price breaks away from the zone it can often get drawn back to it like a magnet. And in this case we see all of the above are true.

Trading around $28.85 earlier today price may be attempting to establish its next higher high.

Share price has risen during the week of earnings 4 of the last 8 quarters.

Could earnings be the catalyst that pushes price to its next higher high or will price continue fading?

Only time will tell for sure what price will do next...

We've layered in traditional Fibonacci levels as well as support/resistance and trend to help identify potential price levels of interest and/or future price targets.

Armed with precision oriented charts like these both traders and investors can formulate their respective plans. 

So what's next?