We may hit resistance & drag with market weakness
GoPro has been diving into the depths of the chart, doing price discovery and trying to find a bottom; but we can see the market has been buying these dips, as illustrated by the MACD and RSI bullish divs. Taking the long trade here is really good in terms Risk/Reward but gambly in the sense that there's no bottom put in just yet.
Downside risk: 1 - Reciprocal ab = cd symmetry eyes sub-$5.00 2 - Predictive/Forecasting defines probable support at 23.99, limited upside to 36.97, bearish target at 7.28 OVERALL - BEARISH David Alcindor Predictive Analysis & Forecasting Durango, Colorado - USA ---------- TradingView - Alias: @4xForecaster
$GPRO has seen massive devaluation since August. Entering with 1/3rd position. Trade as pending. Will update. Technical Reasons Wolfe Wave 5' Completion Major Support Major Dynamic Resistance pending As a higher risk set-up, consider: smaller position sizes adding to winners layering orders sub $30 Good Luck
IF GPRO closes above $65.51, it would appear it's closing above a resistance and breaking out of a pennant. I don't think I'll take the breakout but rather, let's wait for the day AFTER the close, to see if we can get in on a limit buy.
pending pullback before reevaluating entry
Breakout potential through trend line resistance. 20 DMA support holding up.
The chart tells a story and the story unfolds bar by bar.
I am looking for Gpro to make a 60 min stoch reversal. Right now we are in a flag and I am looking for a breakout of the flag. We bounce off of the lower channel line and are now looking bullish on the 60 minute with a cross over on the stoch. I would like to see us retest the recent highs. Possible get a short squeeze into earnings. We could see a $2 move from...
Notes on chart. GPRO close to breaking out, but not in sync yet. Might need a swift pullback to get some of the technicals to align. BBs are tight and trying to expand.
There has been so much chatter over the net on $GPRO so I decided to have a look and indeed there's a very nice setup for a potential bullish move. $GPRO broke out of the daily down trend line (I know some will disagree with the way this line is placed, but that's how I place my trend lines) after a completion of a bullish AB=CD pattern and a daily double bottom....
GPRO has been in a downtrend for over 5 months now. Its backed itself up into its key support line that dates back to the early days of this young stock's IPO. $37 is the area to watch for. If it fails, we will see new lows before we see new highs in GPRO. For confirmation of a reversal I'd like to see GPRO hold over $45. If GPRO can get over the $50 hump I...
Huge falling wedge since November 2014 and we have a monthly support at 37.13 which the price stopped exactly at 5 days ago. What more can we ask from this? :D Open: 37 - 40.35 Stop loss: 36.36 (just slightly below the lows) Take profit: 51.6/ 69.29 (2 t/p level)
Strong support at 37.57. Nice candles, decent volume and a tad of bullish divergence on MACD. A simple buy low , sell high scenario. Risk your 1 r
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...