GPRO trade ideas
green & now going for some glory to 20.33, if the market lets itWe may hit resistance & drag with market weakness
GPRO looking for a bottom.GoPro has been diving into the depths of the chart, doing price discovery and trying to find a bottom; but we can see the market has been buying these dips, as illustrated by the MACD and RSI bullish divs.
Taking the long trade here is really good in terms Risk/Reward but gambly in the sense that there's no bottom put in just yet.
A few Months Ago we predicted Price below 37.13 will bring 10sFor a trade, I will give a shot at 19-20 area.
#GoPro No-Go, IPO Below H2O | $GPRO #nasdaqDownside risk:
1 - Reciprocal ab = cd symmetry eyes sub-$5.00
2 - Predictive/Forecasting defines probable support at 23.99, limited upside to 36.97, bearish target at 7.28
OVERALL - BEARISH
David Alcindor
Predictive Analysis & Forecasting
Durango, Colorado - USA
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TradingView - Alias: @4xForecaster
Never is Easy to forecast the top or bottom but now is not farThere is no doubt that price will test the descending resistance line and price very much consolidated at this very ugly support line $24.50/$25 it may push to $22/$19.50 area which has 45% POT while it could be the bottom base built-up before a serious bounce follows. There is a better strategy to initiate position that will pay off even if it goes down a little bit down. If u decide to take a long position, please do your HW and use stop loss that fits your risk tolerance. Real-time alerts www.2waytrading.com
GoPro Inc - GPRO - Daily - Turning up from oversoldAt some point, everything has a price. Maybe now that GoPro is HALF-OFF, it might entice someone to step up to the plate here. At these prices, maybe a car manufacturer will buy it so they can put one in every vehicle, standard issue. It will lower insurance rates and make our roads safer, especially when everyone knows that their driving habits will be recorded for "future use". I was involved in the concept, fundraising and startup of a Digital Video Storage company in 1994 which stored video recorded and encrypted onto ruggedized hard drives, perfectly designed for mobile environments. Our first market was city buses due to the extremely high accident rate and the high cost of insurance to run them and the high rate of fraud. Needless to say, I have a little bit of experience in the area and was still astonished at the valuation given to GoPro.
With all of that said, the technical condition of GoPro appears to be stabilizing. The move up from $28 shows some new buying and the high volume zone from $30.50-$27.07 has been breached, indicating to some of use technical watchers, that the sellers may be out of the way here.
Upside target to the 38 level over the next 1-3 months. Use a 2-3 range stop down near 25. The best place to enter is down around $29.30
$30.34 GPRO 10/20/2015 3:26PM EST
Bullish Shark Pattern Pattern : Bullish Shark .
Chart time interval : 1 hour
price: 29.08
should have a daily close above 31.9$ to confirm the uptrend
Stop Loss : 26.9$
Risk =2.18$
expected profit : 10$ with first target
and 15$ with second target .
Trade Idea #31 - $GPRO - Resurrection or Fatality?$GPRO has seen massive devaluation since August.
Entering with 1/3rd position. Trade as pending. Will update.
Technical Reasons
Wolfe Wave 5' Completion
Major Support
Major Dynamic Resistance pending
As a higher risk set-up, consider:
smaller position sizes
adding to winners
layering orders sub $30
Good Luck
How far will it fall?If u are discretionary trader who uses both technical and fundamentals you may need more time to see if bottom is close but if u are more of probability trader you may get better edge to use stat for your final entry. Last post on this security it was based on more of probability numbers and it worked but data may not be sufficient to predict how u may use both FPP as well as PND which will finally give u strong case to believe this will give a better chance to enter and exit in a short time. If price holds Last year's June bottom at and around $28.65 with a tight stop below $28, there is a good chance to make at least 15% from there. I prefer $28.16 which suggest a possible bounce to GM at and around $32.56 at the best. If you need real time alerts try us www.2waytrading.com
Multiple Bottom SupportMultiple bottom? Will this support hold? It has never broken this line since the first week of IPO. RSI and Stoch are in areas I would consider to enter long. MACD is concerning due to the signal line crossing just only beginning a descent bellow the moving average. The key for me is that support range. If there is a clear potential for a bottom, it is here. I would like to see a reversal pattern to be sure, but the broad market may prevent this.
$GPRO downtrend still is strong and more pain aheadA few indicators will not help u see day to day price action and no one knows the future but if you carefully look at the trend's strength you may find a good reason to stay long or short til that strength is weakened. $GPRO had strong rebound early this year and it failed to close above the monthly pivot point which also happens to fall right the 50% FIB from all time low to all time high. Now the second chance either long or even a new short position will come how price behaves at and around March low 37.13; close below that level may even suggest a single digit price next 12 months. Close above 49.75 may confirm the bottom and a possible price target $71.
GPRO bullish swing analysisIF GPRO closes above $65.51, it would appear it's closing above a resistance and breaking out of a pennant. I don't think I'll take the breakout but rather, let's wait for the day AFTER the close, to see if we can get in on a limit buy.
GPRO: the simpler the better, back analyse.For once, I come with a review on a trade I didn't published but somehow I kept the original chart link.
The goal is to show you, how with very few indicator and high level chart we can set a great profitable trade.
Early April (the 2nd) I've been long on the stock with this simple chart drawed. Needless to say, it doesn't need a lot of explanation.
In logical order:
- Double bottom at $37
- Break of bearish resistance (black)
- Followed by a pullback on $40 key level
- And very nice rounding RSI bottomish setup.
Very often, the simpler the better !
$GPRO Potential breakout. Breakout potential through trend line resistance. 20 DMA support holding up.
