Dropbox ( NASDAQ:DBX ) experienced a sharp decline in its stock price, plummeting more than 20% following its latest financial report and guidance. Several analysts have downgraded the cloud storage provider, citing concerns over its growth prospects and revenue outlook for 2024. The company's failure to meet revenue estimates has raised red flags among investors...
Dropbox Inc. (NASDAQ: NASDAQ:DBX ) has been turning heads in the financial markets, capturing the attention of investors and analysts alike. Thomas Blakey, an analyst at Keybanc, recently affirmed his bullish sentiment towards NASDAQ:DBX , raising the price target to $37 from $32 and assigning an Overweight rating. This positive outlook is underlined by ...
Good risk / reward ratio on this trade.
Channel breakout.
- Target Entry: $28.57
- Stop Loss: $27.77
- Target Exit: $31.00
- Risk / Reward Ratio: 3.04
About me
- Note that I tend to adjust stop losses in order to secure profits early and preserve capital. This means that the target price is going to be achieved as long as there are no strong pullbacks that...
Dropbox - 30d expiry - We look to Buy a break of 28.82 (stop at 27.57)
Daily signals are bullish.
There is no clear indication that the upward move is coming to an end. 28.68 has been pivotal.
The bias is to break to the upside.
The sequence for trading is higher highs and lows.
Our profit targets will be 31.82 and 32.42
Resistance: 28.57 / 29.00 /...
Dropbox's revenue growth has been slowing down due to intense competition from larger cloud storage platforms like Google Drive, Microsoft OneDrive, and Apple iCloud. The company remains profitable but faces challenges in the market. It is exploring AI integration for its services. Analysts project continued deceleration in revenue growth, with expected sales...
Dropbox - 24h expiry - We look to Sell at 22.14 (stop at 22.94)
Expect trading to remain mixed and volatile.
Previous support at 22.00 now becomes resistance.
The medium term bias is neutral.
22.33 has been pivotal.
Preferred trade is to sell into rallies.
Price action has resulted in a bearish candle after the previous swing high found selling interest at...
Dropbox - 30d expiry - We look to Sell at 22.14 (stop at 22.94)
Expect trading to remain mixed and volatile.
Previous support at 22.00 now becomes resistance.
The medium term bias is neutral.
We look for a temporary move higher.
Preferred trade is to sell into rallies.
Our profit targets will be 20.14 and 19.74
Resistance: 20.80 / 21.50 / 22.20
Support:...
On Thursday the cloud-based data storage company reported fiscal fourth-quarter results that exceeded Wall Street analysts forecasts, and it topped $2 billion in annual sales.
The reported Q3 EPS of $0.43, $0.05 better than the analyst estimates of $0.38. Revenue for the quarter came in at $591 million versus the consensus estimate of $586.15 million.
The...
Dropbox
Short Term - We look to Sell at 22.37 (stop at 23.10)
The medium term bias remains bearish. We are assessed to be in a corrective mode higher. A Fibonacci confluence area is located at 22.40. Resistance could prove difficult to breakdown. We therefore, prefer to fade into the rally with a tight stop in anticipation of a move back lower.
Our profit...
In the last couple of weeks the price of DBX has strongly rebounded and broken through several lines of resistance. This could be a signal that the downtrend is reversing. I will watch what happens in relation to any down swing. If the up trend is confirmed this could be a great entry point.
As you can see from the chart, Dropbox has formed a bearflag.
Once price breaks down from the flag, I see price moving down quickly with a target of ~16 or potentially even $14.66.
Let's see what happens over the coming weeks.
Intro:
"Dropbox, Inc. provides a content collaboration platform worldwide. Its platform allows individuals, families, teams, and organizations to collaborate and sign up for free through its website or app, as well as upgrade to a paid subscription plan for premium features. As of December 31, 2021, the company had approximately 700 million registered users. It...
