GPRO: Technical long setup

GPRO             is currently correcting the recent advance, pulling back to support where we can go long, aiming to capture a rapid move to the upside after earnings are out.
I'm sure the HERO5 listing problems with AMZN             will be resolved soon, restoring investors' confidence in the company's revenue. ( AMZN             sales correspond to 14% of the company's profit)

Risking 0.5-1% here is a good idea.
Good luck!

Ivan Labrie.
Comment: That was a close call!
How did you decide on the entry point of 12.25? This would be after the price falls below the previous lower high. Does it not worry you that this stock appears to be in a very strong downtrend?
The methodology and tools I use shows me that we can buy oversold dips into support. Check the previous rebound off this zone. That was a similar signal to this potential buy signal. We can set an alert and wait to buy, to avoid spending money on commissions setting orders ahead of price reaching a specific price. The previous drop bottomed a bit higher than the support level, so, it's better set an alert close to it and then enter when you see a reaction to the support zone. Risk is 3 average ranges down.
mych36 PRO IvanLabrie
what do you think of lowering the target price to around $15.00 - 15.50 seems like an area of potential resistance.
Hi, it can set up as a buy on a break of today's high, but as you say, we have weekly resistance above. Buying once it drops lower, makes for a safer trade. Now it's in the middle, so not ideal.

mych36 PRO IvanLabrie
well if we wanted to go long tomorrow on a higher high. Could we just set our new target price to be around $15.00? And a new stop of around $13.50?
The stop needs to be under 13.50 for a swing trade, correct.
Problem is, it's in the middle of nowhere now, although we do have a signal, it's a lower probability. If you take it, risk 0.25-0.5% only.
I'd rather wait for price to hit lower levels for now.
mych36 PRO IvanLabrie
I would argue the price is not in the middle of nowhere right now. It's right at the montly pivot levels. Also, it's right at what has been a point of resistance/support all year.

What do you mean by being in the middle of nowhere?

What signal are you seeing?
Check the green lines on my chart. I don't use traditional pivots or other tools.
By the way, check out ABTL and PGC (I posted both), for two great longer term longs, both undervalued companies with great potential. GPRO is more of a trading stock, for swing trades.
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