Pure Storage Inc (NYSE:PSTG) is a leader and provider in flash-based storage systems for large and mid-size organizations. The stock put in a near term high on March 1, 2019, at $21.08 a share after reporting earnings. Since that pivot top in the stock, the shares have continued to move lower and is currently trading at $19.25 a share. Part of the recent decline in PSTG stock has been due to a slightly weaker market. Traders and investors should now watch the $17.50 area for important daily chart support. This is where the stock made a sideways base for most of January before rallying higher into March. This level should be solid support for a short term swing trade when it trades down there.
