Dropbox Inc

DBX remains in a Stage 2 advancing uptrend with rising and stacked EMAs. After consolidating near the 9EMA and 20EMA, price is now tightly tracking above these EMAs with momentum intact and no exhaustion. Conditions favor a shallow pullback into the EMA support zone for continuation toward recent highs.

• ↑Paying users rose 96K sequentially, marking third straight quarter of growth.
• ↑Q2 revenue $631.5M (+0.9% YoY) and ARR $2.566B (+1% YoY) show stable top-line.
• ↓Full-year revenue forecast of $2.485–2.5B implies near-term stagnation.