ASA2001

Dropbox could be about to rocket

Long
NASDAQ:DBX   DROPBOX INC
Hi guys, a new company we will be looking at today is Dropbox ( DBX ). From the diagram we can see that wave 2 is currently in a triangle, and is close to completing its 4th wave and then heading down to completing the wave structure. I see the low of the stock hitting around 20-21$, a great buying opportunity where I see the company heading to higher highs (around 32-35$). When you apply a 1.618 extension to the first wave, this is around about where I see wave 3 completing at. Dropbox in my opinion is heavily undervalued, considering it is a company with over 500million active users. I have been invested in the company for some time now, and will be holding onto it until it reaches my overall long term price target of 70-75$.

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