$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. This formation was previously highlighted on 27th November – https://jeffsuntrading.com/us-stock-in-play-dbx-dropbox-inc/
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.
