GPRO trade ideas
GPRO to release consumer drones ($500-$1000 ea)"GoPro Inc. is developing its own line of consumer drones to expand from its core business of making wearable video cameras popular with surfers and other sports enthusiasts, according to people familiar with its plans.
The company plans to start selling multirotor helicopters equipped with high-definition cameras late next year, aiming for a price tag between $500 and $1,000, according to these people." - Article: online.wsj.com
With something along these lines being developed and released into the public, depending on the estimated costs on each drone they might be able to get enough momentum to bring prices back up between $85-$95.. though at the same time if the development is a total fluff like the Phantom Drones than we can easily see prices retrace back down to $51.65
GPRO DRONES?This is a real battle, the believers, hope and change
and the shorts who crunch the numbers.
It will be a great option play for the next 3 months
Resistance Becomes Support & Support Becomes ResistanceTrend lines are a great way to invest. That is only my opinion of coarse.
This chart is a 60 minute chart so remember the trend lines may not last as long as those on daily or weekly charts. But horizontal lines of support & resistance can last for a very long time.
Take a look at the blue horizontal line. You can see that this $79ish level has been a place to take notice since September of this year. Today is no exception. GPRO ran up on the drone news and has now stalled at the horizontal line. This is not coincidence. This is the way support & resistance & the markets work.
Anyone who doesn't think the hype will last probably shorted around $79ish. All I can say to them is "be careful". Anyone who thinks the rise in GPRO's price will continue should just realize that there will be some turbulence around this $79 level. Not to mention that GPRO is up over 5% on the day...
Let me also point out that the green uptrend (UT) line and the blue horizontal line will intersect by Monday. If you want to stay long, GPRO should stay above the UT line. If you are already making money, you have the luxury of making minor changes to the UT line like I suggested yesterday. But when you are in a new trade, you can't allow more loses than you were willing to take when you began the trade.
If you are thinking short is the right way to play GPRO then you have two lines of reference.
1) If GPRO really is a short, it can't close above the $79ish level.
2) If GPRO really is a short, it should close below the green UT line.
The Trend Is Your Friend... Until Its Not. Good Luck and Happy Thanksgiving.
So you want to Go Pro ???GPRO just recently offered a secondary. The weakness of a secondary can be a good time to jump in. GPRO is perking up today and has entered the gap from the secondary. If it fills the gap it has to cover 4 more points or 5%. How quickly will it happen? You never know with GPRO...
I am willing to admit that the easiest money has already been made from $71ish to $75ish. But there could be more on the horizon. The break of the red DT line was your hint that the short trade may be over. Now the green UT line is in charge. A long investment here is prudent until the price of GPRO closes below the green UT line. $75ish, $79ish, and $84ish are places to look for a bit of resistance.
Remember, when GPRO closes below the green UT line, you should take your profits (or losses) & run. Good Luck!
After hours edit -
1) GPRO did close below the green UT line. If you just started a long position you should be out of the trade.
2) If you went long before today, feel free to adjust the green UT line to accommodate today's candles. $73.25 should be your line in the sand so you still have some profits left if / when you get stopped out.
GPRO tells me i don't always winPerhaps after a few wins in GPRO consecutively, GPRO gave me a overconfident knock on my head two days consecutively :-)
I long it @76.99, price did break out and formed a DOJI three trading days ago, but the following day a big down bar swiftly offset the DOJI, when the DOJI at 82.08 was crossed, i took half of my little profit at 81.99, anticipating the next day price would break back UP.
Instead price GAPPED down yesterday and i exited my remaining half in LOSSES at 73.97 when that bullish engulfing that i went long got VIOLATED!
Let's see whether it is in triangle pattern or conforming to red downtrend channel
I hope you are not caught in this
GPRO - Day Trade (Brad Reed Nov20,2014)GPRO expected to open around 73.39 trapping short term bullish traders. Expect retest and bounce off of 74.06ish and/or 10 or 20 ema.
Another chance may soon present itself (Get ready to ambush)Last few months we had a few amazing shorting opportunities, and once again it may present itself .. get ready to start building it if only if a few situations are met. If you want a real time try us www.2waytrading.com
GPRO Breakout Go Pro has done very well, the earnings were very good and has now broken out of the downward channel. A great opportunity to trade this with options or stock itself.
Capitalized on Failed H&S, 10-20% success rateFollowing up with my last aggressive trade on buying when price of GPRO gapped down and fell below the neck line
4 days ago. 1st, as you can see from my last post the channel that i've drawn isn't so clear as this one.
Still, the falling knife hit my long triggered @S1 of that day which is 65.21.
Knowing that price 100% will go lower to clear up all the bulls (who felt the pain and had to cut loss), i purposely put in another long @63.33 which is S2 to average up. But the lowest it went that day was only 64.74.
Took handsome profit when market open today, sold 9 contracts of call @81, left 1 call options to ride whatever trend.
P.S. I am willing to take initially loses every single trade i initiated.
GOPRO - Still time to short - UpdateIt seems that Gopro has resumed its move down, and this time it seems even more aggressive. Price gaped down, and made a closing marubozu for the day. Impulse is red. If 63 will get broken, there's nothing left to hold this stock till 50$. However, I would short it now, I wouldn't wait for 63 to get broken.
Failed Head & Shoulder?A head & shoulder for GPRO is observed.
By textbook definition, i should be selling. But i decided to go against the herd and prepared to get hurt.
To add matter worst, i have no cut loss and target in sight yet
Follow Up Previous Post (11/16 days post)It was much easier then many stocks we follow when it comes predicting right both short and long term technical analysis. 4-trades in 2 months all successful. The short bearish call that we will have another move back to 71 was achieved today, and probably the downgrade or sell rate from the young analyst spooked many investors today which help us achieve that short term target. The company will report at the end of the month and it's going to be very interested. Will the shorts get burned or anyone left holding the bag will be shown the exit one and for all. The company is not bad or in a bad shape when it comes fundamentals and valuations..it's very expensive and not worth $100. If you want a real time alerts, try www.2waytrading.com
GPRO- You can't help but to love bear channelsOne look at GPRO shows a classic power pattern to always have in your toolbox and that is a BEAR CHANNEL.
If you are long its the what to watch out for when it shows up. If you are looking to short? Its the what to watch for- The downside break of the red channel lines that is. Do yourself a favor and memorize this chart pattern.
These are not recommendations, this is strictly for informational and educational purposes only. Trade at YOUR own risk
GPRO Correction Targeting 66 after rebound to 77Having successfully called the top at 89, here's an EW update on the GPRO correction.
The wave structure suggests a wave (4) pullback to 77.5, whereafter a final push should take the issue to 66 with wave (5).
GPRO Head n ShouldersThis stock looks to have a natural gravitational pull to create a head n shoulders pattern. 71.5-73.3 has bounced last 2 days, if that breaks, which I believe it will, then this chart that resembles that of DDD will be logical enough to cover shorts at that 64 right shoulder level. I do believe it'll then bounce to that 71.5-73.3 before ultimately failing and retesting initial breakout at the 50 level. It should be interesting to see the stock price by lock up expiration
Uptrend continues for GoPro?Channel time again. Yes, channel does fail me at times.
But i am so mesmerized by this uptrend channel that i am compel to take this risk. :-0
Also, i may be wrong, there would be another high, which will coincide with major indices making the NEW high, but by then Gpro will give me a class A bearish divergence where macd & histogram both diverge bearishly.
Exact timing of top is the only thing i can tell.
P.S. My wishful projection.
Follow Up previous Post (Downside momentum is not over)Five days ago, we recommended to short and it looks it paid off, and it was second trade lat 30 days. Still price can go lower from target price provided market remains under pressure. For now good to take profit. Congratulation those who took nice price at 73 zone. If you need real time alert try us www.2waytrading.com
GPRO has 20 points to give This IPO speculation is about to be smothered.. Analysis on chart-- a lot of convergence around the 64 level, by any means monitor the 5 wave subdivision of C.
Go Pro for 10/10/14, Its just this simpleThis stock has consolidated at its highs and has since lost momentum but mustered enough strength to hold such lofty levels. The trendlines show today to be make or break. I suspect we finally break under and w/ the small available float, remember 41% is held short, selling will snowball and this stock may not catch itself until the shorts cover at much lower levels. W how stubborn this stock has been, I suspect its become personal and this wont be covered til the 64 level and testing a head and shoulders pattern
