CHART OF THE WEEK - DropBox, Inc (DBX)

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DISCLAIMER: This chart is based on this date. I'm not suggesting a move up or down. I'm showing a chart I'm watching. I'm not recommending this stock as a purchase. Think of it like this, your showing the world thru my eyes and how I see this chart. Period!
CHART OF THE WEEK
DropBox, Inc	DBX		LAST TRADE >	$22.02
See Current Stock Price-DBX			POSTED ON	5/19/2020
See the World thru my eyes' - Chart Breakdown of the Week
How I see it - Cloud has become the 'Word of the Year' with pretty much any stock saying they are 'cloud based' company ... Wall Street is rewarding them with a higher stock price ... Adobe, Microsoft, Zoom, Amazon... the list goes on and on ... now one that is not mentioned that much is a TRUE cloud based company - that would be Dropbox, Inc - (source Yahoo Finance) which provides a collaboration platform worldwide. The company's platform allows individuals, 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, 2019, it had approximately 600 million registered users across 180 countries. The last 3 anylasts recommended Buy, Outperform and Buy ... Revenue's are off the charts but Earnings are still in the red but not as much as they were ... with more and more people feeling comfortable storage information on the web ... companies like Dropbox will continue to get positive write ups from Wall Street ... but one thing I'd be worried about is all of the companies I mentioned above ... if Dropbox plays it too close to those companies with its services ... it might be tough to get an edge on any of them and should Wall Street think they are not ... well, Im not sure the positiive vibes keep coming. Looking at all my Charting Indicators for DBX ... the one that stands out to me is the KC MID LINE ... every single time DBX tests the MID line Wall Street buys it up ... so instead of using the KC BOTTOM line... Im going to watch DBX as it trades near that MID for a possible low entry purchase... No Skin ... just seeing the worl thru my eyes
RSI	SMA (100)	SMA (200)	KELT MID	OBV TREND
59.29	18.8	18.92	21.06	TRENDING HIGHER
CLICK IMAGE TO SEE IT LARGER IN ITS OWN BROWSER WINDOW

What's the RSI telling me?
RSI - 50/60 represents a stock that is for the most part fairly valued with some value to the Up side
CPT - No surprise here with that chart ... very bullish but notice that it is trading sideways ... it might be consolidating for a pop ... Earnings will really tell the tail in the short term
Support Lines
SMA - When looking for a 'Low Entry' purchase we would love to BUY near the 100 day or 200 day support line. Its not 100% but its a 'Buy Low' situation vs 'Buying High'
CPT - DBX is defeinlity not suffering from any selling in this sideways market ... its not near my support levels I like when making a low entry purchase.
Resistance Line (What Wall Street considers its Top of the Chart near term movement)
CPT - because were not trading higher this is not testing resistance lines ... so this indicator is not a factor in my decision whether I make a purchase in AMD right now. I would click the link to see where it is trading just for reference :)				See Support-DBX
Keltner Channel Breakdown
KC - The stock is trading ABOVE the KC MID line which isn't a bad think here
CPT - Notice evertime its trades near the KC MID the stock pops higher ... its a trend to keep an eye on as it dances on that KC MID line.
On Balance Volume or buying momentum ... is it trending Up?
OBV - The 'On Balance Volume' trend line is UP which tells technical traders that the stock has good momentum or in straight talk, people are BUYING IT. This is a 'Green' checkmark for me.
CPT - That OBV line is nice and is displaying a positive momentum indicator for DBX ... means people are buying it.
Further research with - Using charts for technical analysis, Dividend information and Earnings Report Date
RSI, SUPPORT LINES		KELTNER, OBV
View Chart-DBX		View Chart-DBX
Is this a good company for Writing Covered Calls? ONLY you can be the judge of that :)
Looking at a 30 day window using just (1) deviation out ...
Current Price	Strike Price	~Prem	30 day return	Expiration
$22.02	$23.00	$0.70	7.63%	5/22/2020
Check this stocks options here >		https://finance.yahoo.com/quote/DBX/options?p=DBX
Definition of the various charting indicators I use
RSI - The Relative Strength Index (RSI), developed by J. Welles Wilder, is a momentum oscillator that measures the speed and change of price movements. The RSI oscillates between zero and 100. Traditionally the RSI is considered overbought when above 70 and oversold when below 30. Source - https://www.investopedia.com/terms/r/rsi.asp
SMA (100/200) - A simple moving average (SMA) is an arithmetic moving average calculated by adding recent closing prices and then dividing that by the number of time periods in the calculation average. ... Short-term averages respond quickly to changes in the price of the underlying, while long-term averages are slow to react. Source - https://www.investopedia.com/terms/s/sma.asp
KC - The Keltner Channel is a moving average band indicator whose upper and lower bands adapt to changes in volatility by using the average true range. The Keltner Channel is used to signal possible price breakouts, show trend, and give overbought and oversold readings. Source - https://www.investopedia.com/terms/k/keltnerchannel.asp
OBV - On-balance volume (OBV) is a technical trading momentum indicator that uses volume flow to predict changes in stock price. ... He believed that when volume increases sharply without a significant change in the stock's price, the price will eventually jump upward or fall downward. Source - https://www.investopedia.com/terms/o/onbalancevolume.asp
Disclaimer - No - at the time of this posting I do not have a position in this equity. I will not take a position in this equity for 3 days of this equity as to not front run for this equity.
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