For today's chart we've chosen to take a look at Black Box Corp
) because it is testing an interesting level of support. On May 8
, we mentioned that a drop below the $39 level would signal a move toward the March low near $34.75, which as you can see did play out as we were expecting. This stock should be kept on a trader's radar because the bulls may step in and push the stock up like they did in March, but it is equally important to be mindful of a potential drop below $34.50 because it will signal a sharp move lower. It will take some more time to see which story will actually occur, but regardless of what happens, we believe that this stock is likely to see an uptake in volatility.