GPRO is down 54% since the beginning of October. It has consolidated in a downward wedge and is now sitting on significant support - retesting the price where it first reported earnings in August 2014 & its .236 Fibbonaci retracement, while nudged against TL support. RSI shows a bullish divergence since mid-December and is forming a rounding pattern. High probability trade setup. Entry at $44.75. First target is $53.5 with further upside to $63 (yellow boxes = acceptable profit zones).
2.26.15 - 9:55am EST
Comments
goodguy
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Beautiful chart. Looks like a good set-up. Thanks for sharing. Goodguy.