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Tuesday, 09/04/2018 12:20:00 PM

Tuesday, September 04, 2018 12:20:00 PM

Post# of 557
Seagate Tech $STX Drops After Downgrade, Watch This Trade Level

This morning, leading tech stock, Seagate Technology PLC (NASDAQ:STX), is declining sharply lower after being downgraded. The stock is falling by 9.66 percent to 48.39 a share. Traders should note that STX stock is now trading below its 50 and 200-day moving averages. This formation puts the stock in a weak technical position on the charts. Traders must now look lower for solid support. One area that looks to be a strong potential trade level is around the $43.00 range. This area is where there is a major weekly chart gap fill from early January. Often, the institutional traders will defend a major gap area when filled and tested.




Nicholas Santiago
InTheMoneyStocks
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