• 2 days The Shroom Boom Is Here To Stay
  • 3 days Biden Will Be A Boon For Solar Stocks
  • 5 days The Gold Rally Has Finally Run Out Of Steam
  • 5 days Citibank Analyst Predicts $300k Bitcoin By End Of 2021
  • 8 days Bitcoin Lives Up To Its Safe Haven Status In A Big Way
  • 8 days 14 Million People Will Lose Unemployment Benefits On December 31st
  • 10 days Why 12 Million American Millionaires Isn’t Good News
  • 11 days Big Oil Is Paying The Price For Investing In Renewables
  • 12 days The Banking Industry’s $35 Billion Gravy Train Could Disappear
  • 13 days Did Amazon Just Democratize Prescription Drugs?
  • 14 days The Private Space Race Just Got Very Real
  • 16 days Short Sellers Are Willing Big In This Turbulent Market
  • 17 days SpaceX Gets Go-Ahead To Send Humans Into Space
  • 18 days Saudi Arabia Lost $27 Billion In Oil Crash
  • 19 days China’s Big Tech Takes A Hit As Regulators Crack Down
  • 20 days Black Friday Could Be Retailers’ Only Hope
  • 21 days Why You Should Not Dump Your Stay At Home Stocks Just Yet
  • 22 days The Real Reason Why Uber And Lyft Stocks Have Soared Nearly 50%
  • 24 days Bitcoin Heads Towards $16,000 And No One’s Cashing In
  • 25 days Elon Musk’s $250 Tesla Tequila Is Already Sold Out
How The Ultra-Wealthy Are Using Art To Dodge Taxes

How The Ultra-Wealthy Are Using Art To Dodge Taxes

More freeports open around the…

What's Behind The Global EV Sales Slowdown?

What's Behind The Global EV Sales Slowdown?

An economic slowdown in many…

TheWaveTrading

TheWaveTrading

TheWaveTrading

My goal is to establish the most likely path that the price of a particular asset will undertake and profit through ETF instruments both on…

Contact Author

  1. Home
  2. Markets
  3. Other

GPRO: Annihilated

Monthly time frame:

  • GPRO has been annihilated. From the October top it has lost 91% of its value
  • Price has formed a channel
  • Lets see if the current small range body ends the month with a hammer, which would open the door to a rebound
  • Key price levels are: R1 = 20.50 (January peak); R2 (IPO opening price), R3 = 37.13 (March 2015 low)

GPRO Monthly Chart
Larger Image

Weekly time frame:

  • If a rebound is in the cards GPRO must reclaim the 10 wma = 13.78 (Since October 2015 GPRO has not been able to achieve a weekly print above it)

GPRO Weekly Chart
Larger Image

Daily time frame:

  • Here we have a potential reversal pattern (Head & Shoulder)
  • If the H&S plays out the measured target is located at the last earnings gap fill (24% upside)
  • The Bollinger Bands are pinched, which usually is an omen of a large move in price
  • If a larger rebound is underway GPRO must establish a sequence of higher highs/lows from the February 4 lod. Above 11.75 there is white space until the gap fill. Hence if it breaks with authority the neckline maybe the measured target is doable

GPRO Daily Chart
Larger Image

  • Daily oscillators are aligned with a potential rebound: The RSI has breached the trend line resistance from the August 2015 peak and the MACD with a positive divergence has a new bullish signal cross

GPRO Daily Momentum Chart
Larger Image

 

Back to homepage

Leave a comment

Leave a comment