Despite good earnings, Dropbox shares have lost about 20% from their August highs.
The news points in one direction only: several hedge funds have liquidated their positions and often this results in concomitant openings of put options.
There is nothing negative about the fundamental analysis.
From a technical point of view, we are already on an interesting level from a volumetric point of view, not far away we have the most interesting level, just above the POC of the last year and a half, in the area of $ 23.50.
It is reasonable to assume an upward push, especially from that level, with the target:
– $ 30 is the most conservative
– $ 31 resistance which held the price several times, where the bears won the battle with the bulls
– $ 33 last 3 years high, destined to be broken sooner or later
See you soon for other market updates.
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