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!
GPRO trade ideas
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.
Buy $GPRO At First Sign Of ReboundGoPro looks to be creating a head and shoulders reversal pattern. It is bouncing off of strong support and I expect it to thrust to $11.44 before pulling back and thrusting up even higher. Money flow is increasing and stochastics show it is way oversold NASDAQ:GPRO
GPRO ReboundExpecting movement in this manner till mid/early 2017. Shifting business models takes time and pain, delayed production
Fib retracement shows .618 support at approx. 12.35, and .5 retracement to approx. 11.55.
MACD cross over, showing oversold on RSI. Entering longs, will short weekly's when resistance and momentum show indicators.
A lot of bad news in the price: Get exposed.This thread takes over from the previous one: "Oversold: Buy the dip."
BAD NEWS OUT OF THE WAY?
The stock was demolished after disappointing earnings and the drone debacle. This lead many analysts to downgrade it (current consensus rating = HOLD) with an estimated average target price at the current money. There currently seems to be a lot of bad news in stock. Short levels have also sky-rocketed recently.
CROOKED H&S OUT OF THE WAY
During this debacle, GPRO completed a somewhat crooked head & shoulders formation and the stock retraced back 55% of the distance from the top of the head to the neckline. It currently looks like it stabilizing in a flat consolidation channel / new trading range.
WHERE TO NOW?
Expecting the stock to take the same time to rebound as it did to complete the H&S - 3 months. Expecting limited downside from here, although more disappointments or a rough market could take it below the historical low, towards the 8.00 level.
THREE TRADING STRATEGIES
1. Outright Long
Buy here and hold for a breakout above 11.35. Stop loss at 9.75, as trading at/below that level would invalidate the rebound.
2. Synthetic long only
Pay $0.43/share for a call option expiring on Jan 20'17 to purchase the shares at $12.
3. Costless options strategy
Buy the Jan 20'17 $12 call at $0.43/share and pair it with same maturity $8 put at the same price. $8/share is a good place to go long if the stock continues to slide because: a) it represents a 90% completion of the H$S formation target, b) it is 7% below the historical low, and c) that level would probably spark take-over discussions to pull the stock back up...
Trade safely.
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.
go GO PROA fall from Sep 2014 for 2 years bear market, GPRO is a buy, not yet though. Probably end of the year or 2017 start. The cross of bull (green line) and bear (the red line) is one 2016 Dec 27. It has a marginal error of about 3%-6%
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.
GOPRO hitting the trendline but can retrace moreGOPRO hitting the trendline but can retrace more, look for the break of the correction trendline.
Buy GOPRO INC. (fundamentals)Really good reviews on their new KARMA drone. Super competitive and meeting expectations. The company has been having a bit of problems with the supply chain but they are working on it. The new drone is just superior to their competition. We still dont have the numbers about the company´s performance with the new drone, for more conservative investor you should wait, i bought a third of my position now and i will update whenever we have numbers. But as investors always say: "taste your company" and karma drone tastes so damn good.
Long here vs 13.7 pivotTrend line support and pivot support at 13.7. Great to go long here against those two major supports.
GPRO chanel tradePrice is in a uptrend chanel and might bounce again on the support level, lets wait some candles of confirmation before entering the trade.
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El precio se encuentra en un canal alcista, y quizás rebote nuevamente sobre la linea de soporte, esperemos por algunas velas de confirmación antes de abrir una posición.
