Wait to see what WS does at $9.1... no position, on watch
Let's look at the 4-hour window. GPRO jumps on the new of BX disclosure of stakes. However, it's already price-in today and might experience a sell-off on the resistance of 11.97 and 13.04. If GPRO couldn't continue its momentum upwards, it's likely to go down again. Watch it tomorrow to see if that will happen!
Pretty simple setup. Multiyear trendline got broken yesterday, market gapped higher and stayed above the line. Market also broke a textbook triangle pattern. I already entered one position @ 9.93 with a stop @ 9.22 and targeting a big move higher. and i might also take a second position if market retests the top of the triangle. Earnings are a risk factor, but...
GPRO experience large sell-off recently. However, I still see bearish trend as we could see in the chart, upside potential is limited and there's strong resistance around 9.6-9.7. If GPRO cannot break out, it's likely it will remain bearish and even goes down to 8.5 or lower
I will try to buy tomorrow around $9.20. We sell GoPros where I work, and sales in December, which is their biggest volume month, were only down -0.9% this year. Last year, December was down -18.2%. So, it could be that sales are starting to suck less, which is a start.
I currently have GoPro Inc (NASDAQ:GPRO) in my Verified Investing portfolio. I am up about 3% on the trade but am watching closely for the $9.65 level to break. When it busts through, the stock will see a massive short squeeze to $12.00. What is so cool about this trade is that you can clearly see the trend line and why it is so important. The squeeze pivot trend...
Reversal pattern. Support level at week timeframe.The support line must be at this area 8 - 7.50 $. if price breaks that line ther is Fibbo 1.272 at 6.16 $. Good luck for all.
I try some longs here.....it's tricky but high rewards if it breaks to the upside....:-) Tight stop though
NASDAQ:GPRO Safe Trades;
The simplest option play in the book, and too juicy to pass up ... . Metrics: Probability of Profit: 65% Max Profit: $100 Max Loss/Buying Power Effect: $800, assuming you do nothing and the stock goes to zero/broker dependent Break Even: $8.00 Notes: I got this filled earlier today for a 1.00 ($100) credit. It's still going for .96 at the mid price, however.
Last weeks trade on GPRO never triggered due to bearish run. Looking to set back up if we get a bounce of the support around $8.60. I think we're due for some bullish action here and look for GPRO to soar in 2017!
If GPRO jumps off the support I'll be looking for a bullish swing trade for 3R.