Looks like GPRO is starting to put in some higher lows on this short-term time frame. I like the 5.90s risk paired with the potential upside provided by a strong recent earnings reaction. This stock is still almost 20% short, and there are a lot of people out there in social media land hating on this company, so we could see some covers if this thing refuses to break down.
Positive reaction to recent earnings a few days ago
+5% pullback to consolidation level on earnings day
Watching this one for a short term (over the next couple of days) bounce, potentially back to the 3.70s area. Risk would be 3.20
Choppy intraday chart, but the daily chart looks like this recent earnings momentum play could start moving higher. I have done no research into this company. This is pure observation based on technical analysis alone (support and resistance).
Recent positive reaction to earnings could help finally push this stock through longterm resistance. Short-term time frame, I have done no fundamental analysis to support a hold period of more than a few days. This would be pure earnings momentum based on technical analysis.
Recent positive reaction to earnings has created volatility and a nice consolidation range
Looking to buy near 7.40 support or short if it can't hold
Looking to buy the breakout if it bounces and pushes through the 7.50s
CERS ascending triangle breakout pattern in reaction to earnings is now providing support on this recent pullback. I’ll be looking for a move through 3.70 (3.60 stop) in anticipation of another test of the $4 level.