KaganCapitals
Long

GPRO Reversal with Breakout

NASDAQ:GPRO   GOPRO INC
311 0 3
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
United States
United Kingdom
India
Deutschland
France
España
Italia
Polska
Türkiye
Россия
Brasil
Indonesia
Malaysia
ประเทศไทย
Việt Nam
日本
한국
简体
繁體
Home Stock Screener Forex Signal Finder Cryptocurrency Signal Finder Economic Calendar How It Works Chart Features House Rules Moderators Website & Broker Solutions Widgets Stock Charting Library Feature Request Blog & News FAQ Help & Wiki Twitter
Profile Profile Settings Account and Billing My Support Tickets Priority Support Contact Support Ideas Published Followers Following Private Messages Chat Sign Out