GPROflag after couple of days on the run
Would be nice to see MACD curl back up.
Watching for a break or closer to bottom to have a tight stop
GPRO trade ideas
Short squeeze at playTOO MUCH BAD NEWS IN THE PRICE?
All it took was a positive comment from the Pacific Crest analyst yesterday, about the upcoming earnings and the prospects for Karma, to take the stock 10% up in 3x average volume. Short interest has been so high on GPRO and the stock has been so neglected in the recent rally that any marginally positive presumption (not even news) seems to want to take the stock higher. This is encouraging ahead of earnings, and points to the amount of negative expectations built into the stock right now.
EXCITING TECHNICAL BREAKOUT
Yesterday gave us a proper, solid breakout:
- Gap up at the open;
- Close above the open;
- Heavy trading volume;
- Back in the previous consolidation channel.
EARNINGS COMING UP: WHAT TO DO?
Current holders should continue to hold, in case the short squeeze extends into earnings. Volatility has subsided somewhat but remains elevated, which means non-owners should build a synthetic position to take advantage of this situation while being exposed to further upside.
CREDIT OPTIONS STRATEGY
SELL GPRO 17FEB17 $9 PUT = +$0.39 (ind.)
BUY GPRO 17FEB17 $11 PUT = -$0.28 (ind.)
TOTAL = $0.11/SHARE
RISK AND REWARD?
Get paid to wait for a continuation of the breakout.
Main risk: Company disappoints, stock crashes, investor gets assigned the shares at $9.
Best case: Stock trades above $11, investor makes money on both options or buys the shares at $11.
GPRO might have another sell-offLet's look at the 4-hour window. GPRO jumps on the new of BX disclosure of stakes. However, it's already price-in today and might experience a sell-off on the resistance of 11.97 and 13.04. If GPRO couldn't continue its momentum upwards, it's likely to go down again. Watch it tomorrow to see if that will happen!
GOPRO LOOKING READY FOR TAKE OFFPretty simple setup.
Multiyear trendline got broken yesterday, market gapped higher and stayed above the line.
Market also broke a textbook triangle pattern.
I already entered one position @ 9.93 with a stop @ 9.22 and targeting a big move higher.
and i might also take a second position if market retests the top of the triangle.
Earnings are a risk factor, but they also could be the ignition for the take off higher.
Fundamentals are also starting to turn on this stock, so lets see, maybe we can have a good rally towards 15$
Risk:Reward is also pretty nice.
Best of luck and trade wisely
GoPro Inc Rounded Bottom Formation, Nears 30%+ Breakout MoveShares of GoPro Inc (NASDAQ:GPRO) are inching higher today in Friday trading action. The stock has a perfectly formed rounded bottom stock chart formation. This is extremely bullish. The final step is to breakout above the $9.50. Should the stock price on GoPro Inc (NASDAQ:GPRO) close today above $9.50, it will quickly squeeze next week to $12 or more. There are a huge amount of shorts in this name and any sort of strong breakout would panic them. Keep an eye out for the GoPro Inc to break above the $9.50 level.
View my trades and Verified performance now right here: verifiedinvesting.com
Bullish stock chart action on GoPro Inc has investors buying
Another opportunity for GPRO?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
When $GPRO Hits This Price, It Will Squeeze 25%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 line starts all the way back in early November 2016 and has remained extremely important every week since. Just in the last few weeks GoPro Inc has attempted a short squeeze twice, each time failed because the stock could not get above $9.65. I do expect it to bust through this level soon. Prepare for a fun, profitable ride!
View my trades here: verifiedinvesting.com
