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DBX new 52 week high
$dbx selling minus book value /\ Book/sh -1.05
$dbx selling minus book value /\ Book/sh -1.05
DROPBOX on the verge of massive downside drop.
Having just listened to the CEO on CNBC try and quantify the markets reaction to disappointing results, the stock looks more like a short than a long. The stock has multiple competitors, some of which have recently completed IPO's that are taking market share and investor interests.
Long term holders of DBX must be ready to throw in the towel as the stock is no at its all time low levels, a break below that should open the floodgates.
The RSI is oversold but that does not mean it can drop further, any bounce could be short lived ans a very risky strategy.
BULLISH ON ACCUMULATION PRE EARNINGS
Having MSFT and GOOGL as you competition is not a comfortable market to sit in, but Dropbox has stood up to this challenge. Unfortunately they have done so at the cost of their margins, this has resulted in sell off's on its previous earnings reports. We are hoping for a positive report and margin improvement today which could produce a sizable jump int the stock.
DBX buy 32.42
at support trend line
low risk high reward trade
normal chart
log chart
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