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.

Happy trading

Lazy Bull



DISCLAIMER: I am not a financial advisor nor a CPA. These posts, videos, and any other contents are for educational and entertainment purposes only. Investing of any kind involves risk. While it is possible to minimize risk, your investments are solely your responsibility. It is imperative that you conduct your own research. I am merely sharing my opinion with no guarantee of gains or losses on investments.

Lazy Bull