GPRO trade ideas
$GPRO Potential breakout. Breakout potential through trend line resistance. 20 DMA support holding up.
The gap is filled, so there is no reason to continue to decline.The gap is filled, so there is no reason to continue to decline.
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.
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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
