GPRO trade ideas
GPRO - getting ready to bounce higherWe still need to confirm that it can go higher. So, i would wait for it to close above the 100 ma and also watch the overall market.
GPRO- Short Trade For The Coming WeekFriends
1. Double top pattern has formed.
2. Price is resisting off the 50EMA
3. Evening star signal has formed and hit channel support
I'm happy to short upon a lower open and follow through optimism. Theres not much to this trade, it's just kind of intuitive.
Tom
GPRO to $55 and $63 GPRO has recently been in a downtrend for a while now holding at the .886 fib level, which also is a support level around the $38 area. We also we have been diverging on the daily chart, then breaking the downtrend line. The new uptrend has been established now that we have made a higher low and a higher high. Medium term resistance is a $55 the 50% fib level and prior support. Then $63 area, which is the .618% fib and prior support area. Under $37 and this trade is invalid.
GPRO EarningsLooking to make an earnings play on GPRO.
I see two main options
- Lately GPRO has been getting a lot of support and may be creating a bottom therefore if this earnings goes well there should be a large amount of upside.
- If GPRO misses earnings it will drop significantly but buying two or three days after earnings would be a very similar situation to FEYE as it had a huge decline and then bad earnings putting it below the IPO price but that was the bottom for FEYE.
Personally I would buy GPRO before earnings as consumer products have been doing well this earnings season and GPRO beat earnings last time but gave a bad outline for the future of the company scaring people.
Gopro Inc - GPRO - Daily - Trying to MOUNT a rallyI highlight how crazy GPRO shares are in this chart since it dropped 57% from its highest low of trading near the $91 level. It was sickening to me to see how insane the price of this stock was relative to its revenues and it seemed only a matter of time before it came crashing down to earth. Trading is a difficult game and staying short amidst the crazed buying is difficult. You can see where I posted my bearish charts on GPRO and yet I didn't capture the decline in GPRO shares.
What I want to show you here is how well GPRO acts around its earnings release levels which are highlighted in GREEN lines on this chart. You can really SEE how the market responds to these levels.
It looks like GPRO may be mounting an attempt to rally to the 51 level where it reported earnings last quarter.
Although long term I am not a bull on GPRO due to its insane valuation, from a trading perspective it could trade up.
Life is short - trade hard.
Tim
45.50 GPRO 2:38PM EST 4/22/2015
Gpro 60min Reversal I am looking for Gpro to make a 60 min stoch reversal. Right now we are in a flag and I am looking for a breakout of the flag. We bounce off of the lower channel line and are now looking bullish on the 60 minute with a cross over on the stoch. I would like to see us retest the recent highs. Possible get a short squeeze into earnings. We could see a $2 move from here till earnings
$GPRO breaking, target : $50$GPRO is breaking up of the falling wedge.
Expect a target around $50 before seing some correction to retest the bullish trendline
GPRO on verge of breakout $GPRONotes on chart. GPRO close to breaking out, but not in sync yet. Might need a swift pullback to get some of the technicals to align. BBs are tight and trying to expand.
GOPRO;Target price: 50.00 - 51.65Technical Analysis is probabilities, not certainty, well, Gopro (GPRO) shows a good probability to continue going up, it shows a good risk/reward as a trade. Also OBV (volume) looks strong and momentum which mathematically is the 2nd derivative of price movement is increasing fast (the 1st derivative is the slope of the movement). Finally the regression line is in uptrend mode after the breakout of the falling wedge, even w/ the Nasdaq correction we had last week, GPRO shows relative strenght. My target is around 50 - 51.65 (right before earning release on May 7th.)
Reversal after Bullish AB=CD pattern There has been so much chatter over the net on $GPRO so I decided to have a look and indeed there's a very nice setup for a potential bullish move.
$GPRO broke out of the daily down trend line (I know some will disagree with the way this line is placed, but that's how I place my trend lines) after a completion of a bullish AB=CD pattern and a daily double bottom.
Potential targets for the pattern are - 48.5$ and 53$
Notice that there is a wide stop loss here so use the proper risk management rules
This analysis was sent to the members earlier, as part of their weekly letter, among other trading ideas for the week.
Join the members here: www.themarketzone.net
GPRO Near Key SupportGPRO has been in a downtrend for over 5 months now. Its backed itself up into its key support line that dates back to the early days of this young stock's IPO. $37 is the area to watch for. If it fails, we will see new lows before we see new highs in GPRO. For confirmation of a reversal I'd like to see GPRO hold over $45. If GPRO can get over the $50 hump I would be very optimistic for the bulls. For a long term stock holding, one could take a speculative play here at 42, place a stop at 37 and see if GPRO can make a run at the ATH months from now.
Have a suggestion for my next chart analysis? Please Comment!
GoPro is GoNoob no more -- High probably comebackHuge falling wedge since November 2014 and we have a monthly support at 37.13 which the price stopped exactly at 5 days ago.
What more can we ask from this? :D
Open: 37 - 40.35
Stop loss: 36.36 (just slightly below the lows)
Take profit: 51.6/ 69.29 (2 t/p level)
GPRO potential bounceStrong support at 37.57. Nice candles, decent volume and a tad of bullish divergence on MACD. A simple buy low , sell high scenario. Risk your 1 r
Owner of GrokTrade: Long GPROThis technical stock is beat down and potentially close to breaking out on a Falling Wedge formation. I bought a token position and will add to position on confirmed breakout, if/when it happens.
See Falling Wedge chart description here: www.freeonlinetradingeducation.com
GPRO Reversal with Breakout I have been following GPRO for a while and it has been patterning out pretty good so far. It has stayed within its channel lines.
What I like about GPRO right now is that it has not broken down yet. What I am looking for is a one last flush down with a reversal candle.
I have set up Buy Triggers.
Buy Trigger 1: I have a Buy Trigger 1 at the old support lines when the stock started trading.
When I look at Support lines I decide whether they are strong or weak support or resistance lines. As we can see from the chart we have found support on the bottom of the red channel multiple times and resistance at the upper dotted trendline. These are strong trendlines and have a better chance to react on.
As for the old support lines back in July, those are weak support lines and could break down
We are currently right on our Channel Support lines and I am looking for a reversal candle. Coming in the coming days.
Higher Risk Buy Trigger 1 is in place to try to catch that bottom but the real buy trigger for the long term would be the Buy Trigger 2.
If we finally break out of the wedge pattern we could break out of our bearish trend and beginning to move higher
Long GPRO on Buy Triggers!3/5/15 Update
We Keep Knocking on the door of the wedge and are turn back each time. Once again that is why we have a trigger on rather then a buy signal on a range. Until we break out of this wedge we will continue to roll over.
I am looking for a rotating back down on the 30 minute stochastic and the a pull back on the hourly and the final rotating back up for a break out.
I have been breaking down GPRO for a couple of weeks now. Looking at how it might follow a similar post lock up trend that TWTR has. For the most part it has done very similar things. Most importantly I have been trying to help people out on where GPRO might fall to and bottom out at.
I am looking at GPRO to be a great long because while its P/E might be at 43.84 but its forward P/E is only 24. If you believe 43.84 is a good valuation than over the next 12 months the stock should raise to 60+ to maintain that valuation.
Instead of trying to really pick a day for a bottom I set up buy triggers on GPRO to enter a long position.
Buy Trigger 1: is a breakout of the fallen wedge pattern. If we break that trend I believe the bottom will be in. We might retrace that trend line after the break but overall we will move up.
Buy Trigger 2: Is what I am calling a trap door support bounce. Right now we have many support line coverging on GPRO. But it could be a fake support in which we break through the level and fall to the bottom of GPRO raise to 90+. I believe then we would have shaken weak hands out and the bottom will be in.
Those are my two buy triggers, when they happen then I will enter a long position.
Remember sell into strength and don't be afraid to buy the fear.
These are my notes on my other chart about GPRO will follow TWTR's post lock up trend. But this chart is just the GPRO chart.
I was hoping that Gpro would flush on the lock up in order to find support on its lower trend lines. Instead we got a rally then a dump. I wanted to see a dump to a trend line then a rally so the trend would now be up rather then down.
But overall gpro is still following what TWTR did post lock up. What I am still waiting for is for a lower trendline bounce in order to start a new upward trend. I think we are coming very close to that range.
How have we followed TWTR lock up.
1) Both Had Earnings beats and dropped rather then rallied.
2) After the drop on earnings both had a small rally that failed. Twtr rally came right after lock up and gpro had its rally right on lock up. That was the main difference on when it happen but both had a pop and then a entrancement back to the lows.
3) Twtr slowly grinded downward to his lower trendline again before popping out of a tight channel.
Gpro is now stuck in a tight channel as well and I am looking for it to to break to the upside of this channel after hitting close to its lower channel line range of $40-41.
We currently have a Channel within a Wedge within a Channel X mark the spot coming up.
Channel 1: a really right channel from the small rally we just had
Channel 2: A bullish wedge pattern. Usually downward wedges break out to the upside
Channel 3: The overall larger channel & old support line back to the IPO days
I am looking to get down close to these trendline before moving up.
The main point is I am trying to find catch the bottom here before we grind up to the large channel upper channel line.
That bottom could be in now because we are close. Could be in on the X mark the spot or even a trap door below the support lines I have but the bottom is coming and a buying opportunity is to be had.
FYI: AMBA earnings are next week. I am looking for a beat on their earnings. However, I am looking for it to move the stock one way or another. If AMBA drops out we might see some of these trendline fail...if they beat the bottom could be in on GPRO.
It looks like the bottom will be in on Gpro at the latest next week.
Long GPRO: Channel within a Wedge within a Channel. Lane Diverg?These are my notes on my other chart about GPRO will follow TWTR's post lock up trend. But this chart is just the GPRO chart.
I was hoping that Gpro would flush on the lock up in order to find support on its lower trend lines. Instead we got a rally then a dump. I wanted to see a dump to a trend line then a rally so the trend would now be up rather then down.
But overall gpro is still following what TWTR did post lock up. What I am still waiting for is for a lower trendline bounce in order to start a new upward trend. I think we are coming very close to that range.
How have we followed TWTR lock up.
1) Both Had Earnings beats and dropped rather then rallied.
2) After the drop on earnings both had a small rally that failed. Twtr rally came right after lock up and gpro had its rally right on lock up. That was the main difference on when it happen but both had a pop and then a entrancement back to the lows.
3) Twtr slowly grinded downward to his lower trendline again before popping out of a tight channel.
Gpro is now stuck in a tight channel as well and I am looking for it to to break to the upside of this channel after hitting close to its lower channel line range of $40-41.
We currently have a Channel within a Wedge within a Channel X mark the spot coming up.
Channel 1: a really right channel from the small rally we just had
Channel 2: A bullish wedge pattern. Usually downward wedges break out to the upside
Channel 3: The overall larger channel & old support line back to the IPO days
I am looking to get down close to these trendline before moving up.
The main point is I am trying to find catch the bottom here before we grind up to the large channel upper channel line.
That bottom could be in now because we are close. Could be in on the X mark the spot or even a trap door below the support lines I have but the bottom is coming and a buying opportunity is to be had.
FYI: AMBA earnings are next week. I am looking for a beat on their earnings. However, I am looking for it to move the stock one way or another. If AMBA drops out we might see some of these trendline fail...if they beat the bottom could be in on GPRO.
It looks like the bottom will be in on Gpro at the latest next week.
Finally, look for a Lane Divergence on the daily to possibly play out. If it does we are setting up great
