Pure Storage

‚ÄčPure Storage - ticker PSTG We have taken this off our immediate want list due to analyst downgrading flash storage. Just wait for a better entry.  Charts showing a pull back.  No dividend!   The next earnings call may be the next turn a round.  I'm eying this one as a spec, and a trade to boot.  This may be entering a tighter trading range short term, will have to see.


The charts show the price held at the first support level, ($15.80) and then proceeded north to $17.17 for the high this last friday, and closing at $16.94   Once again technicals showing this one going south.  We may be seeing the new trading range....$16-$17.


I'm going to be watching this one.  It is a speculation stock.

Currently the charts are telling me to wait for a better entry point.  Current price is at the lower edge of the bollinger bands.  If it busts through the $15.80 support level, next stop may be at $14.70, and if it doesn't stop there, we could be looking at the $12.50 price range.  I don't need this one at this point and time.  Although February the company could be announcing a first ever profit.  It's worth watching between now and then.

Web Design by Kevin Huseman