GoPro (GPRO)
Gopro nearing pivot level. Good time to get long?Gopro nearing pivot level at 14.00
If I was looking to get long, I would lean against 14.00 and stay long as long as that level holds. I would stop out under 12.00.
The 20 level is the next obvious level of supply, but after that it is pretty open.
Gopro has underwhelmed investors since going public, hence the steep slide. In my view, stock prices reflect the companies future earning potential weighed against expectations.
As always, have a plan before you go into a trade. I always find a checklist useful.
1.Entry
2.Stop
3.Target
4.I am going long/short because X....
Writing things out will help you go back and evaluate your thinking.
Ride the GPRO bandwagon?POOR FUNDAMENTALS, BUT VALUATION COMPELLING?
It took a BUY rating from BAC, ahead of the much anticipated Karma drone product launch (conference due today) to propel the shares significantly higher, even though the company has been suffering from decreasing topline growth rates and an unprofitable business model. Will this trend continue?
TECHNICALLY STRONG
After the infernal descent of 2015, this year has mostly been one of consolidation for GPRO. Since the all-time low of mid May 2016, it has staged an impressive rebound (c. +80%) and it seems that the rounding bottom formation of 2016 is ending successfully, in a breakout to the upside supported by good volume and preceded by a golden cross. Today is the 3rd day of vertical upside on significant volume, suggesting some sustainability to this movement.
Those tempted by further potential upside could initiate a partial position here and buy further on weakness all the way to $14.00. If the breakout is further confirmed, the upside potential from here could be substantial but given the recent outperformance, the trade should take time to unfold. Allow wide stop losses to give this trade some time.
HOW TO TRADE THIS?
Key levels on the downside: $15.00/14.50/14.30/13.50
Key levels on the upside: 16.25/20.00
Aggressive investors should use a 13.50 stop-loss (-14%)
more cautious traders should use a 14.30 stop-loss
Alternatively, buy a 21/10 OTM Call with a 19/20 strike and pay some 2% for unlimited potential upside
Do not expect GPRO to continue highs for too longNASDAQ: GPRO saw a massive jump on last Friday and Monday. However, I would expect the stock to level back out at around 14.14, or lower. Due to the fact that GPRO has achieved passed its resistance level. In such case I would hold off with selling or buying and waiting until the next spike which will probably be within the next month or so. Also I would watch this stock around the holiday season. Good luck!
GPRO Massive Jump Next MondayNASDAQ:GPRO is expected to have a potential bullish run on Monday September 19th, with the anticipation of GoPros new Karma drone to release. I would consider this stock for the week of the 19th, expecting it to rise to about 14.14 (at its next resistance level). Check it out.
OPENING: GPRO OCT 21ST 13 SHORT PUTHere, I'm just trying to suck in a little bit of premium without being all in on the stock ... . (Filled for a .64 ($64)/contract credit).
As usual, I'm selling the strike nearest 30 delta.
I'm fine with getting assigned at 13 (after which I'd proceed to sell calls against), but would naturally prefer cheaper, so will keep an eye out for opportunities to roll down and out for credit and duration if I get a shot at it. Naturally, the Oct 21st expiry is around earnings, so that's something I'll have to keep in mind ... .
CASHFLOW: $FIT 5% ROI - READY WITH FAR MONTH CALLSIF ONLY THIS $FIT IS ALREADY IN YOUR PORTFOLIO, THEN PROCEED. OTHERWISE YOU NEED TO WAIT FOR ER.
I already have $FIT in our portfolio, So maybe after ER, I'lll decide to sell far month call.
Possibly, FEB17 13 strike @ $2.55 and close it @ 1.77 which 5% ROI. so you can cover your losses here.
Fundamental are not good for new entry.
Technically it is going up, around 14.85/14.95, so possible drop, if it closes within the channel.
Option contracts are good with far month contracts.
RISK: Enter at your own Risk. Investment mindset differs from person to person. Method may not be suitable for your investment objectives.
DISCLAIMER: I don't provide investment advice, I'm entering the market with my own account.I don't try to accurate in entry, because most of the time I or my client own this stock , so we only look approximate change in trend. It is not necessary you have to do the same.
Update status
CASHFLOW: $FIT AR3.4% or UR16+% If only you have this stock in your portfolio and if you are mindset is cashflow, still wait for ER...
Aug 16 15.50 for 0.46
GPRO Going Down Tomorrow Too?NASDAQ:GPRO is still following its channel, which could mean that it will continue to fall (until it reaches it bottom boundary). I would not be surprised if this happened. Check it out. (looking between 12.14 and 11.86)
GPRO about to ramp up..go longFrom the chart it looks like GPRO is about to break this trend line and test the 200 dma and if it breaks look for more gains in the near future
GPRO May Have One More PeakNASDAQ:GPRO could go up tomorrow between 13.28 and 13.46 (WHICH IS LIKELY). However, it could fall to a lower level of 12.78 (WHICH IS LIKELY FOR MONDAY). Check it out.
GOPRO POSSIBLE SCENARIOSGopro seems inside an expanding channel, with a little bullish divergence for a possible leg up. I'm expecting a breakout of this channel to the downside.
Going long on $GPROGoing long from here with the company launching the most highly anticipated products during holiday season. Possible going pass $20s. LONG!
Long GPRO The trend will likely continue to go up into earning. I'm going long as it will likely break $14s by end of week.
GPRO Has hit the Support RangeUPDATE: As described in an earlier idea (about 2 hrs ago), GPRO will continue to fall within a range of 11.28 to 10.93. As predicted it is currently at 11.24 with a continuing fluctuation at this point. GPRO may spike by tomorrow. Check it out.
GPRO Spike SoonNASDAQ:GPRO ready for support between 11.30 and 11.28, within the next three days. This could be GPRO fifth spike since May 18th 2016. Check it out.
