GPRO trade ideas
Gopro nearing pivot level. Good time to get long?Gopro nearing pivot level at 14.00
If I was looking to get long, I would lean against 14.00 and stay long as long as that level holds. I would stop out under 12.00.
The 20 level is the next obvious level of supply, but after that it is pretty open.
Gopro has underwhelmed investors since going public, hence the steep slide. In my view, stock prices reflect the companies future earning potential weighed against expectations.
As always, have a plan before you go into a trade. I always find a checklist useful.
1.Entry
2.Stop
3.Target
4.I am going long/short because X....
Writing things out will help you go back and evaluate your thinking.
Ride the GPRO bandwagon?POOR FUNDAMENTALS, BUT VALUATION COMPELLING?
It took a BUY rating from BAC, ahead of the much anticipated Karma drone product launch (conference due today) to propel the shares significantly higher, even though the company has been suffering from decreasing topline growth rates and an unprofitable business model. Will this trend continue?
TECHNICALLY STRONG
After the infernal descent of 2015, this year has mostly been one of consolidation for GPRO. Since the all-time low of mid May 2016, it has staged an impressive rebound (c. +80%) and it seems that the rounding bottom formation of 2016 is ending successfully, in a breakout to the upside supported by good volume and preceded by a golden cross. Today is the 3rd day of vertical upside on significant volume, suggesting some sustainability to this movement.
Those tempted by further potential upside could initiate a partial position here and buy further on weakness all the way to $14.00. If the breakout is further confirmed, the upside potential from here could be substantial but given the recent outperformance, the trade should take time to unfold. Allow wide stop losses to give this trade some time.
HOW TO TRADE THIS?
Key levels on the downside: $15.00/14.50/14.30/13.50
Key levels on the upside: 16.25/20.00
Aggressive investors should use a 13.50 stop-loss (-14%)
more cautious traders should use a 14.30 stop-loss
Alternatively, buy a 21/10 OTM Call with a 19/20 strike and pay some 2% for unlimited potential upside
Is GPRO a long-term hold through 2017?Just watched Neistat's review of the new GPRO drone prototype so I'm super pumped.
youtu.be
This idea is obviously super biased.
HOWEVER, chart does look bottomy with a nice trgt of $37.18 on flat kumo signalling a potential long term hold into 2017. This trade gets more enticing when price breaks cloud and closes into it. I speak often about flat kumo + edge to edge trades. This would qualify as such.
Do not expect GPRO to continue highs for too longNASDAQ: GPRO saw a massive jump on last Friday and Monday. However, I would expect the stock to level back out at around 14.14, or lower. Due to the fact that GPRO has achieved passed its resistance level. In such case I would hold off with selling or buying and waiting until the next spike which will probably be within the next month or so. Also I would watch this stock around the holiday season. Good luck!
Go pro short I been playing gopro for months and it is one of the most easy stocks to trade and it goes up fast and down fast which means good volatility and profit.I just bought it 13.05 and sold it at 15 on friday and made 14 percent in 3 days .I think go pro is over overbought right now with MACD at .44 and RSI @76 and is a good short at 15.15 to 15.50 and a good selling point would 13 to 14 dollars.Then buy back in @13 and sell at 15.
GPRO Massive Jump Next MondayNASDAQ:GPRO is expected to have a potential bullish run on Monday September 19th, with the anticipation of GoPros new Karma drone to release. I would consider this stock for the week of the 19th, expecting it to rise to about 14.14 (at its next resistance level). Check it out.
OPENING: GPRO OCT 21ST 13 SHORT PUTHere, I'm just trying to suck in a little bit of premium without being all in on the stock ... . (Filled for a .64 ($64)/contract credit).
As usual, I'm selling the strike nearest 30 delta.
I'm fine with getting assigned at 13 (after which I'd proceed to sell calls against), but would naturally prefer cheaper, so will keep an eye out for opportunities to roll down and out for credit and duration if I get a shot at it. Naturally, the Oct 21st expiry is around earnings, so that's something I'll have to keep in mind ... .
