Dropbox - potential fifth wave up?
Updated
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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