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
5G5 trade ideas
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
GPRO: Disect the DistributionLooks like we have a two segment primary leg up, where leg segment 2 has been retraced. Price is currently retracing the immediate leg to the left during the distribution process. I've included some significant levels of support that have been left untested. Price will eventually test these levels. Once price loses this 89 level, I expect a large move down to begin retracing the leg segment 1 of the primary leg. Remember, the bigger the base, the larger the space. This means distribution could take time, especially in low volume environments. As this progression plays out, be sure to rotate to the next larger time frame until you understand what's happening.Distribution is proceeded by a move down, accumulation by a move up. See you @ 70.
GoPro - time to go low, or lowerNoted some negative divergence on the tops of CCI and RSI and MACD turning to a downward trend (same happened in NAS and SP and they are down 5% now). Should be getting lower from here..but it has a magical bull force that kept it up 100% with no ERs so who knows - maybe bulls will keep it up amidst the whole market sell-off. But if goes lower, you know where there sign to sell was. 89-90 is definitely a strong level.
PS - the Gann Swing indicator is close to showing a sell line as well, but i am yet to test and get to try it more (it is tweaked to 5, but on 3 or 4 is stil close to Sell signal)
Gopro Inc -GPRO -Daily -Chris Moody's Gann Swing close to a sellIf you are long, I assume you'll be watching the close today very closely.
GPRO is sitting right on support here - and acting well despite a weak market, but it was down yesterday in a very strong market. So, GPRO is detaching itself from the overall market based on the last two days.
Now the chart just turned yellow as the last is below the stop.... Keep your eyes peeled!
Tim 12:41PM EST 88.29 last GPRO
Time to sell GPRO5 waves in GPRO now seems complete.
The issue closed the day negative on a 2.5% up NASDAQ day.
There are 4 bearish candlestick formations (Evening Star, Hanging Man, Dragonfly, Shooting Star)
The primary 3 high was a volume spike and made the new high on declining volume.
Looks quite bearish.
We can technically confirm when 79.13 is taken out which is the first target.
Also correcting the original call which actually turned out to be the top of primary 3.
GOPRO - Time to shortThe move on Gopro is over-extended and I believe it is going to correct. I never trade new stocks, but since Gopro is a new sensation here on TV I thought I'd post a chart. Climactic volume on the Weis Wave, and a false breakout, not too much, and definately not enough for me. Look for 70$, if that breaks, I think Gopro is in trouble and 50$ is coming
What goes up must come down!Since June this stock was up 245% and probably above, and recent 7% one day drop was a kind of reminder that when pundits decide to take profit it will be a brutal so a little guy will decide to hold for the hope that it will come back and that is what happened after all, but you should trade not more than a few weeks. We had a nice profit from that drop, and put another trade well managed option positioning regardless where it goes, you can have a winning trade. Now, recent WS love in this stock may also end a disaster...check out what happened to GTAT and what we said about it. Try us www.2waytrading.com
GPRO: Proof that Charting & Price Action Analysis WorksSee our original blog post published before the start of trading on 10/3: www.syncubate.com
$89 seems to have been the line in the sand as a near-term resistance for GPRO on the daily chart after the breakdown in price on 10/2.
Price action analysis of the daily versus 30 min chart:
1. Notice how the stock attempted a rebound towards the $89 level on 10/2 after the early morning sell off, but was unable to close above it.
2. Again on 10/3, the stock pushed above $89 in early trading, but was unable to close above it to finish off the day and week.
The stock has had 4 straight green monthly candles since its IPO. On the weekly chart, 7 of the past 8 weeks have been green. Safe to say at this point that some consolidation is warranted going into October options expiration.
Let's see what happens. No doubt an epic run since early September.
For more market commentary and stock analyses, see our blog: www.syncubate.com
GoPro Goes Berserk For detailed commentary and analysis, see our blog post published 10/3/14: www.syncubate.com
In this post, we'll dissect the stock's surreal run up from the low $50s in the beginning of September to its near-term high of $96.45 on 9/30/14.
Our chart as published on our blog represents two time frames of interest to us from a price action standpoint. The first is the daily time frame for GPRO going back to mid-July. The second is the 30 minute time frame from 9/23 - 10/2.
This post articulates two reasons for the run up in price, and offers a great example of supply versus demand in effect. For more analyses and commentary on the stock market, check out our blog: www.syncubate.com
5 waves up seems complete in $GPRO5 waves up seems complete in GPRO.
We would be technically more certain of that when the low of 4 at 76.22 is taken out and definitely certain when (4) at 63.45 is taken out.
According to elliott wave principle 1st waves are usually retraced 61.8 % which stands at 54.46.
A bear market lasting at least a few months can be expected in GPRO.
Trading is a tough business-How high will it go?No one can tell you but certain technicians can try their best. Down the road there are strategies that can help you make money regardless where it goes from here, but betting against a stock that WS seems in love with, you will only get burned if you don't plan well. FYI we are short from today's high, and hope we win. If you decide to short it get prepared for shocks before you see money, and there are many strategies that can help you no matter where it goes. If you need real time alerts try us www.2waytrading.com
Gopro Inc - GPRO - Daily - Time at Mode says uptrend ends FridayI hope this chart is self-explanatory.
The more time at one price, the more time for a rally.
Once the market 'disconnects' from a 'mode', then count that many days forward to project a time to exit the trend.
Once the rally time expired, a new consolidation had been building which was a smaller 9 days. The market disconnected from that price and is now in the final stages of the advance from that 9-day consolidation set to end this Friday, October 3, which is 3 trading days from now.
This method was very useful for calling the top in TSLA earlier this year and many other markets.
Tim 93.70 last GPRO 9/30/2014 4:45PM EST
GoPro Inc (NASDAQ:GPRO) Ready To Go Down BigAnother new all time high for GoPro Inc (NASDAQ:GPRO) seems to be the phrase every single day. The maker of action and adventure cameras is defying all the odds and destroying anyone who has been able to short this name. However, as we know what goes up must come down and GoPro Inc (NASDAQ:GPRO) will prove to be no exception. You might be wondering where are the best levels to step in and buy GoPro stock. The levels I have isolated as the best money making levels are $82, $71 and then way down to $63.50. I also have some more levels in between but those will be reserved for Elite Round Table members only. You might be thinking these levels for GoPro Inc (NASDAQ:GPRO) are a fair distance away, but keep in mind that this stock has had such a parabolic rise that when it falls it will drop 10-20% in a single day. Be on the right side of the trade and profit like a professional.
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Parabolic - On WatchBeen watching GPRO the last couple of weeks... kicking myself for not going long but I think there's a lot to be gained on the downside if you can be patient for confirmation. Today the float was flipped on what appears to be a short squeeze from hell, where +40% of the float is short. IMO this type of buying pressure can last for weeks but is not sustainable and can/will collapse on itself. I've also found that low float stocks can be highly manipulated so be careful and wait until confirmation of a break in the parabolic trend line with high volume. It also isn't prone to any sharp downticks in the overall market.
As a recent IPO it's too hard to tell where fundamentals or intrinsic value lie for GPRO but its safe to say it's above all analyst projections and is has little to no margin of error for missing revenue targets. My underlying thesis is that this is a cult stock with a good product but sky rocketing on unsustainable buying pressure... keep on watch.