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UnknownUnicorn3382580
Nov 27, 2021 3:41 PM

Dropbox - potential fifth wave up? Long

Dropbox, Inc.NASDAQ

Description

I tried to mark the waves and it is quite challenging to do it it for the uptrend.

I declined a potential 5-waves move up as a diagonal, as wave iii is longer than wave i, although it fits within the narrowing trend lines (will paste in the update section below).

As a working option, I arrived at the potential expanding leading diagonal, that has the potential of breaking the ATH (post-IPO high) in a way shown on the chart.

Hope you find this analysis helpful, if you invest in DBX.

It is worth noting, that current price may be quite attractive given the 25% discount from the recent swing high))

Trade safe!

Comment

Comment

BUT! if we apply log scale, a leading diagonal fits perfectly! :

Comment

If the leading diagonal shown on the last screen is valid, then the projections are $50 for the wave (iii) and $62 for the wave (v)

Comments
jmorg33
Maybe some more possible downside to $21.94. Needs to reclaim $23.49 and push back up to $26.17.
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