GoPro (GPRO)
GPRO might have another sell-offLet's look at the 4-hour window. GPRO jumps on the new of BX disclosure of stakes. However, it's already price-in today and might experience a sell-off on the resistance of 11.97 and 13.04. If GPRO couldn't continue its momentum upwards, it's likely to go down again. Watch it tomorrow to see if that will happen!
GOPRO LOOKING READY FOR TAKE OFFPretty simple setup.
Multiyear trendline got broken yesterday, market gapped higher and stayed above the line.
Market also broke a textbook triangle pattern.
I already entered one position @ 9.93 with a stop @ 9.22 and targeting a big move higher.
and i might also take a second position if market retests the top of the triangle.
Earnings are a risk factor, but they also could be the ignition for the take off higher.
Fundamentals are also starting to turn on this stock, so lets see, maybe we can have a good rally towards 15$
Risk:Reward is also pretty nice.
Best of luck and trade wisely
Another opportunity for GPRO?GPRO experience large sell-off recently. However, I still see bearish trend as we could see in the chart, upside potential is limited and there's strong resistance around 9.6-9.7. If GPRO cannot break out, it's likely it will remain bearish and even goes down to 8.5 or lower
GPRO - Long into earningsI will try to buy tomorrow around $9.20. We sell GoPros where I work, and sales in December, which is their biggest volume month, were only down -0.9% this year. Last year, December was down -18.2%. So, it could be that sales are starting to suck less, which is a start.
When $GPRO Hits This Price, It Will Squeeze 25%I currently have GoPro Inc (NASDAQ:GPRO) in my Verified Investing portfolio. I am up about 3% on the trade but am watching closely for the $9.65 level to break. When it busts through, the stock will see a massive short squeeze to $12.00. What is so cool about this trade is that you can clearly see the trend line and why it is so important. The squeeze pivot trend line starts all the way back in early November 2016 and has remained extremely important every week since. Just in the last few weeks GoPro Inc has attempted a short squeeze twice, each time failed because the stock could not get above $9.65. I do expect it to bust through this level soon. Prepare for a fun, profitable ride!
View my trades here: verifiedinvesting.com
GOPROReversal pattern.
Support level at week timeframe.The support line must be at this area 8 - 7.50 $. if price breaks that line ther is Fibbo 1.272 at 6.16 $.
Good luck for all.
Long position hereI try some longs here.....it's tricky but high rewards if it breaks to the upside....:-) Tight stop though
OPENING: GPRO JAN 20TH 9 SHORT PUTThe simplest option play in the book, and too juicy to pass up ... .
Metrics:
Probability of Profit: 65%
Max Profit: $100
Max Loss/Buying Power Effect: $800, assuming you do nothing and the stock goes to zero/broker dependent
Break Even: $8.00
Notes: I got this filled earlier today for a 1.00 ($100) credit. It's still going for .96 at the mid price, however.
New GPRO setupLast weeks trade on GPRO never triggered due to bearish run. Looking to set back up if we get a bounce of the support around $8.60. I think we're due for some bullish action here and look for GPRO to soar in 2017!
Looking for a bullish swing trade on GPROIf GPRO jumps off the support I'll be looking for a bullish swing trade for 3R.
NO-GO for GOPROStill going down.My conservative play is only 2.34% to a common support level. Historical when the VI (negative) breaks above this level, the stock drops an average of 15.12% over the next few weeks. The minimal move is 1.25%.
Fortunately or not, there is not much room to drop. Holiday shoppers are most likely looking for deals and the price tag on GPRO products versus lower priced competitors continues to make GO PRO a NO-GO.
WEEK OF 11/20: HIGH IV IN PETRO UNDERLYINGS; NOT MUCH ELSEWHEREAfter having gone through my usual routine of screening for high implied volatility rank/high implied volatility underlyings for plays this coming week, one thing stands out: the implied volatility is in petro, with stocks like CHK, SDRL, WFT, PBR and the like rounding out my top 10 IV list.* With OPEC talks approaching here, and "friskiness" in petro-based underlyings likely to ensue, I'm loathe to pile into more petro, particularly if it involves a bullish assumption. The "more likely than not" outcome is no meaningful OPEC agreement as to cuts, which means oil down, which means further long opportunities below somewhere. If the contrarian outcome comes to pass (i.e., "meaningful cuts"), well, then I've just plain ass missed an opportunity to add long positions here and will have to make do with the bullish assumption positions I've got on here.
That being said, the "Top 10" list isn't entirely bereft of possibilities, depending on your risk tolerance and aversion to roller coasters.
For example, GPRO may be worth a bullish assumption play here on the notion that Christmas sales of its drones will be "brisk," something we probably won't know unless GPRO discloses its unit sales before its Q4 earnings announcement next year. The nearest to the 20-delta strike short put, 45 DTE, however, is the Dec 30th 8.5, which would bring in .36 ($36)/contract at the mid -- not exactly something that gets me excited. Even assuming I wanted to go nondirectional (short strangle/straddle, iron condor/fly), I can't squeeze enough out of those setups premium wise to make it worthwhile.
VRX is, well, VRX. The Dec 30th 14.5 short put (currently the 19 delta) goes for .66 ($66) at the mid price. That isn't bad, but I have to put up with sitting on pins and needles for 5 weeks or more with that setup. The alternative would be to go with a defined risk setup (not keen on being caught undefined in a potential whipsaw). Even there, however, an iron condor won't pay out at least 1.00 in credit without forcing the wings in beyond the 1 SD (I prefer more room with volatile biotech), and I'm not sure that I would want to go with the narrower breakevens of a fly, in spite of the fact that the credit I'd receive at the door would be more than sufficient. (A Dec 30th 13/18/18/23 iron fly would bring in 2.78, for example).
Well, what about AMD? That's in the list ... . Like its semicon counterpart, NVDA, AMD's been on a rip and the place to have gotten in was lower for a bullish assumption play (scratches "short put" off his list). And nondirectional doesn't pay enough: the Dec 30th 8.5 short straddle would bring in a 1.44 credit at the mid (I like to get at least 2.00 out of those); the 7/10.5 short strangle, .40 at the mid. Defined risk (flies, condors) will bring in even less.
CLF? Same deal (can't get much out of the 45 DTE 20 delta short put; short straddle/strangle, iron condor/fly bring in too little premium).
Ugh.
Sometimes, these holiday weeks are best for hand sitting ... . Looks like this is going to be "par for the course."
* -- The top 10 implied volatility stocks (in descending order): CHK, WFT, VRX, CLF, AMD, GPRO, PBR, RIG, VALE, CX, UNG.
Oversold: Buy the dip.Negative news regarding operational manufacturing issues at GPRO have brought the stock down more than 20% in 2 days. The stock currently looks majorly oversold, as the market discounts a disappointing XMas season ahead and less than satisfactory Karma drone sales. This looks overdone. betting on short-term rebound as shorts take profits. Buy at the market with a stop-loss at the recent low of $9.90. Money at risk $0.65/share. Target $12.00/share. Reward/Risk = 2.3/1.0.
GPRO: Technical long setupGPRO is currently correcting the recent advance, pulling back to support where we can go long, aiming to capture a rapid move to the upside after earnings are out.
I'm sure the HERO5 listing problems with AMZN will be resolved soon, restoring investors' confidence in the company's revenue. (AMZN sales correspond to 14% of the company's profit)
Risking 0.5-1% here is a good idea.
Good luck!
Ivan Labrie.
