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...
after some cooling off and profit taking, reaccumulation has occurred off the daily and price has broken out of a supply zone previously created in the consolidation. as price pullsback to the tops of the shoulders, while a pull back to the bottom of the channel would also be a reasonable but less likely possibility, expect a very bullish movement from the bottom...
