EarningsBeats.com Digest

Published: Fri, 07/10/20

EarningsBeats.com Digest for July 10, 2020

Dear Digest Subscriber,

Join us today for our first FAQ Friday webinar today at 11am eastern. During this session, Tom Bowley, Chief Market Strategist at EarningsBeats.com will be covering many of your frequently asked questions - including those on our services, methodology, style, etc.

The room will open 30 minutes in advance. Click below to join. If you are unable to attend live, a copy of the recording will be emailed out following the session.

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Is This Software Stock Ready to Soar?

It's never a bad thing to reside in one of the best industry groups and that's where Box, Inc. (BOX) finds itself. After a heavy volume breakout in June, BOX has been sideways consolidating between 20.00 and 21.50 as volume drifts lower and lower. But it's not a bad thing technically as the rising 20 day EMA continues to offer up support on any pullback:

Many software stocks have been soaring of late as the prospect of much higher earnings is driving the space as we head towards earnings season. BOX offers a bit of value, simply because its rise has not been of the magnitude that we've seen from others in the industry. Nonetheless, there is a negative divergence as BOX printed a new price high in June with a lower PPO printing. While further consolidation is a possibility, I would absolutely respect a close above 22.06, especially if accompanied by much stronger volume than normal.

Happy trading!

Tom Bowley

Chief Market Strategist

EarningsBeats.com
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