IvanLabrie
Long

GPRO: Technical long setup

NASDAQ:GPRO   GOPRO INC
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?
Reply
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.
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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.
Reply
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.

snapshot
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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?
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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.
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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?
Reply
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.
Cheers.
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is GPRO still in your radar? I'd like any sort of comment on my idea >
GPRO
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toner toner
thank you! ;-)
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@toner, hi! Thanks for stopping by.
Actually, I am not trading $GPRO at all lately. I would have to update the chart.
+1 Reply
IvanLabrie PRO IvanLabrie
It's currently in a downtrend and under resistance now.

snapshot


It could go down unless it holds above this range for a few days. Fundamentally speaking, I wouldn't be interested in owning this company.

Do you have any fundamental insights for it?
+1 Reply
toner IvanLabrie
@IvanLabrie, I agree with your "Fundamentally speaking, I wouldn't be interested in owning this company", it's a so difficult market BUT:

1) I think gopro is still the brand of certain way to make photo/video, it's a sort of "apple" in his photography niche (my opinion and sentiment)

2) “The company saw total revenues of $218.6 million in 1Q17, an increase from $183.5 million in 1Q16 and above the consensus estimate of $207.9 million. GoPro’s management noted that Karma was a major growth driver in the quarter.”

“GoPro expects GAAP operating expenses to be lower than $585 million, compared to $835 million in fiscal 2016. The company also expects non-GAAP operating expenses to fall 30% YoY from $709 million in fiscal 2016 to $495 million in fiscal 2017.”

“GoPro also fared well in its overseas markets, as international revenues comprised 60% of its total revenues in the latest quarter—a record for the metric

“GoPro’s (GPRO) narrow adjusted EPS (earnings per share) loss of $0.44 that it posted in the latest quarter was supported by its revenue growth and cost-cutting efforts. The company logged an EPS loss of $0.63 in 1Q16”


3) I read the idea that "snap wanna be gopro" and "go pro wanna be snapchat" so why not an acquisition? > and other too as canon or nikon or aapl / google / samsung (why not facebook/instagram?) so basicly I'm looking for an acquisition's rally too;

thank a lot for feedback and for attention!
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toner toner
@IvanLabrie sorry I put - as usual - all link/sources in "squared bracket" and it's disappear!!!

> http://marketrealist.com/quote-page/gpro/
> https://www.tractica.com/wearable-devices/what-to-expect-from-the-wearables-market-in-2017/
> http://www.newyorker.com/business/currency/why-is-snap-calling-itself-a-camera-company
> https://www.nytimes.com/2017/02/28/technology/snapchat-drone.html?_r=1
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@toner, thanks for expanding on your idea. I think it is vital to 'trade what you know' and have a story for the trade, not only a chart. This is a good start.
An acquisition is an interesting idea, indeed. Might be good to monitor this one, also check out $ETSY, on that theme, if it retraces in the next few days it would be a great trade. It might be acquired by $AMZN for instance.
Cheers.
+1 Reply
toner IvanLabrie
@IvanLabrie, thank you for constructive reply (I will switch on radar on ETSY too!) p.s. do you sleep sometimes? ;-)
+1 Reply
@toner, sleep is overrated...(jk)
+1 Reply
toner IvanLabrie
@IvanLabrie, LOL! but you need to sleep too!
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