Buying DropBox ($DBX) here is a bad idea. (February 08, 2021)
DBX
Just a quick video on Dropbox ( NASDAQ: DBX ), here’s why: The stock tried to break out today above this key $25.00 level but it was unable to do so. I noticed that Investor’s Business Daily published an article on this stock and that it was “attempting” to break out. I just glanced at it; I would actually be really surprised if the article said to buy this stock on the breakout, that’s not what they do, but it did break out.
What I am suggesting is, that you don’t buy this stock, I would sell it right now if I owned it. I would watch the stock and see if it consolidates if it tightens up. This is just a stock that has gone too far and needs to pull back. They have earnings on the 18th, which is 10 days from now. There’s plenty of time for the stock to move and maybe give you a good setup.
This is the quickest video I’ve done in a while. All I am telling you is this isn’t the time to buy it, this is time to be selling it. We will get to the time to buy it at another time.
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