BOXL - Grade: A-

BOXL - Grade: B+ (initial setup)

Upgrade to Grade: A (after 2.22 reclaim)

Downgrade to Grade: A- (failure to consolidate appropriately above support)

Key Levels: 1.96, 2.22, 2.62(B), 3.51, 5.04

Out of play below: 1.96

Breakout above: 2.62 with the early test at 2.22 for possible consolidation and a leg up in the channel

Channels: 1.96 - 2.62, 2.62 - 3.51

BOXL lining up for a larger push, as this is our in play level 1.96.

Consolidation above this point through lunch is possible however with the lack of momo in the market today there’s a higher probability of late morning volume to test resistance and fade.

If resistance 2.22 is pushed above and reclaimed as a support during this period we upgrade to an A

BOXL upgrading to an A with 2.22 reclaiming into lunch and consolidation above this point will further upgrade

1.22.19_BOXL_upA.png

BOXL still doing work, this consolidation is exactly what was mentioned we'd need for the upgrade towards a higher A into A+ territory, keeping in mind the day's overall condition.

DO NOT CHASE.

Keeping an eye out for any wedges to indicate pullback potential.

1.22.19_BOXL_lunch.png

BOXL key moment.

Breakdown below 2.15

On this push breakout possible with a push past 2.26

We want to avoid a lower high, and if this is not possible we'd confirm out of immediate play with a lower low

BOXL, the second attempt and final test that we will be waiting for.

If this lower high confirms below 2.15 and vwap we will consider this out of play knowing that the setup was proper but the situation around the movement has lowered the probability of success to the point we have to take on too much risk.

We want to project as much as possible and not chase with stops. We can do this by honoring our original information and read, because this 2.15 is an intraday level (but the daily level 2.22 is more key anyway) we will be patient as it attempts to consolidate but entry below vwap at this point is too risky.

Chris WingfieldComment