Traders, Dropbox (DX) can fall from the current levels as it has reached an FCP zone and is forming a wedge as well. However there is an inverse head and shoulders pattern which can play out in the longer term. A break out above the this zone can take Dropbox to the next FCP zone above.
Rules:
1. Never trade too much
2. Never trade without a confirmation
3. Never...
I have been swing trading DBX over the last year and since been following this channel IMHO will reaching $33s and then pause after earnings to continue uptrend.
I really like when I see an uptrend that has been steadily building over time. That means there are more people into it that are probably profitable at this point and since it hasn't just came in a windfall it has more of a "earned" feeling to it.
In turn, they are :
a) more likely not going to quickly just sell off for profits like a pump & dump, and instead
b)...
My minimum expectation for the wave (iii) is $40
Given the potential extension based on the structure of the move after the wave (ii) - $40 may be a very conservative target.
Good luck!
DBX IPO ANALYSIS: Initial offering about $29 then shot up to $45 which shows interest, then the stock bottomed out at .5 its ipo price at about $14 and formed the base ofthe cup of a cup and handle pattern. since creating bottom dbx has shown consistent accumulation and a symmetrycal cup pattern. My estimate is that price is at or is nearing the lip of the cup...
Looking for a potential short /put on DBx tomrorow. Def could get it lower then 28 area however I’m looking to get some if we get any upward price action. One to keep an eye on for a nice put position
Fundamentals aside. Dropbox has a nice 4 year accumulation period since Mar/April 2018. The stock is not very sexy but it originally opened at $30 range with ath around $42.50.
Wyckoff view - Not sure if it's quite ready to breakout yet but price definitely hovering around Sign of Strength (SOS). Selling Climax (SC) and Automatic Reaction (AR), and Spring pretty...
Today, we will share our view on DBX
The main two key items we were paying attention was the first resistance zone and the ABC pattern on the edge of it.
From there, we defined the next target based on previous situations, and 34.00 was the place where we saw clear rejections.
Now we can think about the shape of the ascending movement, and we can use the...
It may be a double top after failing to pass the resistance of $ 30, a slight correction is likely, the price is still somewhat extended and detached from its lower frequency moving average.
The higher low in november 2020 showed a break in market structure from a long downtrend since mid 2018. A higher high followed in december 2020 which was the first confirmation for a trend reversal. The next higher high en higher low fully comfirmed an up trend, which is still going strong and recently gained a multi year weekly resistance zone , which is a very...
DBX long, looking for 5th wave completion, looking to sell puts or premium collecting options set-up. steady crawl up to 1:1 fib at 30.77, trimming there, and then selling the rest at 1.272 fib extension confluence with trendline at 32.66.
Daily:
$DBX I'm trading this as a rebound from a bottom basing play. You can see my logic on the chart. $DBX also beat on earnings however, it was not a big beat. We'll see what happens. It should be able to run the the first resistance line for a small profit. But I'm hoping it can bust thru there, at which point I may add, and it could go up to the next upward trend...
