DBX trade ideas
US Stock In Play: $DBX (Dropbox Inc)$DBX have successfully played out its Bullish Wedge breakout formation, attaining its target projection of $24.15 from the adjacent height of the previous correction.
Dropbox opened trading yesterday with Bullish Runaway Gap, characterized by a significant price change in the direction of the short term prevailing trend, closing the session with $24.20 acting as an immediate resistance for the week.
The breakout of $24.20 on $DBX will be a valid mid term Double Bottom chart formation breakout in play, a continuous follow through for its second chart bullish chart formation breakout in less than 2 weeks; a potential reversal to a long term bullish price trend establishment.
DROPBOX Chart DailyHey people, DROPBOX is in a bullish push with strong past buying volume and a trace made by buyers. In the TIMEFRAME M1 we observed a kind of hammer candle with a decrease on a volume return in purchase issued, it came to test the consolidation zone. High potential to breakout the price then subsequently breakout the zone to go to the second zone and land on the next high. With a first higher on the TIMEFRAME H4 and two higher (on the TIMEFRAME H1).
And if the buyers are still in the Momentum to climb on the high after before breakout of a consolidation zone. Little buying power to test half of ANDREWS PICHTFORK's median.
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MTBC heading to the upsideNASDAQ:MTBC
mtbc just updated their guidance, tune down a bit, but still expect faster growth.
in the next week, it will be crucial for the bulls, if price can stay above 9.5, then 60 SMA will cross 120 SMA, it will be positioned to test 11.8 level.
But if 9.5 failed, then all SMA will line up to be a bear case
DBX - long ass bottom formingDBX - as I scoped around on youtube. Lots of people considering this as a good value play with over 30% of margin of safety
Thesis is this is a beaten down stock and is being disrespected and ignored. Massive rounding bottom is forming here.
Solid balance sheet
High margin business
Fantastic revenue model
Undervalued with respect to market cap, cash on balance sheet, gross margin is super high
Still growing revenue double digits
Management team is superb and is friends with the big players in big tech
Even if they aren't meeting expectations, this is a prime take out candidate for acquisition - buy them for pennies on the dollar - just like slack technologies
They're profitable and generating lots of free cash flow, ability to buy back shares and reward shareholders over time
I'll be buying some OTM leaps
Jan 2023 22$ strike leaps for 6.50$ x 15 contracts to start my position
Jan 2022 I'll also be selling 20$ puts for 3.5$ x 5 contracts and then selling the 25$ put strikes x 10 contracts for 6.75$ NASDAQ:DBX
I have over 700 days for this stock to move a few dollars in my favour to break even. This one is a sit and wait for long time as management turns the company around. Maybe get bought out for 2-3x their current share price
Ichimoku entry DBXNot as much recent volatility as you want to see but this ticks all the boxes and I like the cloud cross, should be primed to run up over the next few days.
Stoploss at $20.76, at $21.85 set a trailing stop of $0.18.
Am considering loosening up the trailing stop settings to be more aggressive after losing out on lots of gains in IGMS and GOGO today -_-
DBX watch breakout from previous MA cross over areas NASDAQ:DBX
Watch out for area b/t 2 red line, previous heavily traded area, if price can stay in b/t for another 20-30 days, all MAs will be aligned for a huge run-up.
If rush up too much, then maybe a false break out since 200MA still huge resistance to the price
Sentimental :
lots of youtubers pumping it. SAAS overall high value VS DBX "poor" P/E ( due to its poor profitability ( maybe a take over? )