Hi guys, a new company we will be looking at today is Dropbox
). 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$.