Dropbox - potential fifth wave up?
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!
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!
Note
Note
BUT! if we apply log scale, a leading diagonal fits perfectly! :Note
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)
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Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.