Pure Storage Stock Primed For A Short-Term Bounce

Data management stock Pure Storage (PSTG) has carved a choppy path lower since its Nov. 3 record high of $100.45, mostly due to a Dec. 3 post-earnings drop of 27.3%. At last check today, PSTG was down 4.6% to trade at $66.54 – roughly 33% below its all-time peak. The shares could soon stage a comeback, however, as the pullback has them running into technical support on the charts. On the daily chart, the 180-day moving average looks like it’s keeping today’s losses in check. More importantly, however, is th ...