4GPRO trade ideas
Gpro technical accumulation before greater gain...Gpro technical accumulation before greater gain. We expect the exchange rate to continue strengthening. Therefore, the current sideshow is understood as a technical accumulation. Its bottom is 6.84 usd level. We expect a steeper climb from this level. This is assumed on the second steeper ATR axis. For the exchange rate, you can go up to 10 usd levels.
GPRO - Bullish ideaThis after its IPO spike a few years back has been punished by the market, however we feel now is the time (and covered on our blog many months ago) that GPRO 7.25% / GoPro 7.25% may be making a comeback, and now that they have released their new advertisement for the Hero 7 with MUCH improved specs this is a good case for a huge recovery as:
1) Coming into Christmas holiday seasons sales will likely ramp up over the next couple of quarters.
2) Their product line get re-vamped and re-energies them.
Does this mean it will happen? No, though we have witnessed stocks like this in the past and it just seems that down here the risk is minimal and reward exponential.
If this did happen along with other improving fundamentals, we could cast a potential target which could be $40 in the year 12-18 months and possibly $60 in 24 - 36 months.
GPRO accelerated... The exchange rate may change to a steeper climb. Based on two factors, this conclusion can be drawn. The first is the ATR of the exchange rate nearly twice the value of the previous week (this was not reflected in the exchange rate itself). The second is that it has arrived in a rate field where higher traffic is expected. The axis of the ATR (purple line) is steeper. We will be awaiting testing on this axis. The exchange rate may rise to a double wave structure. The first wave structure up to 8.68 usd levels and after correction, the second wave structure may rise to 10.56 usd.
The steeper rise in GPRO... In a previous analysis I described that the GPRO could start to slow. This is because the angle of the ATR axis supporting the rise is flat. Therefore, the current motion track follows this. But slowly we reach a steeper ATR axis. This may be the consequence of a faster-rising exchange rate. Exchange rate movement analysis does not include wave structures. These are calculated later. Only the target price and its approach path. The target price can reach 13.51 usd. But I note it is a longer-term prediction.
GPRO Oversold SetupLooks like GPRO is starting to put in some higher lows on this short-term time frame. I like the 5.90s risk paired with the potential upside provided by a strong recent earnings reaction. This stock is still almost 20% short, and there are a lot of people out there in social media land hating on this company, so we could see some covers if this thing refuses to break down.
Stay with GPRO in long...Stay with GPRO in long. Multiple wave, sub-wave structures can be seen simultaneously on the graph. But the end result is the same. The decline in the exchange rate is likely to stop. The second ascending wave structure (green line) is started. the slope of the increase may be higher because it is moving along an accelerating ATR axis. The second wave structure target price is 8.81 usd. Then correction can begin with the third rising wave structure. The value of which is still unavailable somewhere between 11-12 usd.
Breakout TradeGopro break weekly descending wedge, breakout $7 with strong daily volume. between 6.57 and 7.30 have a potential equilibrium pattern.
Plan:
buy at 6.76 and 6.66
stoploss at 6.49
target: 10-10.8
if stop out, get in, if middle band support hold.
Target: 1/2 at $7 and the half ride with trend to 10-10.8
It is only the personal trading note, not financial advice, but opinions and pieces of advice are welcome.
Good person to follow for TA---- TheChartGuys
GoPro Descending Wedge Bull BreakMonthly: descending wedge, price below middle, but squeezed band indicates big wave is coming up or down.
Weekly: holding above middle band, strong volume break the upper trend line, 12 and 21 EMA cross, weekly chart is great.
price above 5.60 will keep weekly in the uptrend.
Daily: one bar takes out multiple resistance, strong bull. daily consolidation, above 6.50 is all good
Plan: if 4H between 7.31 and 6.56 form an equilibrium pattern, probably could set a stop buy at breakout point
keep an eye on it, waiting on a good risk entry point.
