• 375 days Will The ECB Continue To Hike Rates?
  • 375 days Forbes: Aramco Remains Largest Company In The Middle East
  • 377 days Caltech Scientists Succesfully Beam Back Solar Power From Space
  • 777 days Could Crypto Overtake Traditional Investment?
  • 782 days Americans Still Quitting Jobs At Record Pace
  • 784 days FinTech Startups Tapping VC Money for ‘Immigrant Banking’
  • 787 days Is The Dollar Too Strong?
  • 787 days Big Tech Disappoints Investors on Earnings Calls
  • 788 days Fear And Celebration On Twitter as Musk Takes The Reins
  • 790 days China Is Quietly Trying To Distance Itself From Russia
  • 790 days Tech and Internet Giants’ Earnings In Focus After Netflix’s Stinker
  • 794 days Crypto Investors Won Big In 2021
  • 794 days The ‘Metaverse’ Economy Could be Worth $13 Trillion By 2030
  • 795 days Food Prices Are Skyrocketing As Putin’s War Persists
  • 797 days Pentagon Resignations Illustrate Our ‘Commercial’ Defense Dilemma
  • 798 days US Banks Shrug off Nearly $15 Billion In Russian Write-Offs
  • 801 days Cannabis Stocks in Holding Pattern Despite Positive Momentum
  • 802 days Is Musk A Bastion Of Free Speech Or Will His Absolutist Stance Backfire?
  • 802 days Two ETFs That Could Hedge Against Extreme Market Volatility
  • 804 days Are NFTs About To Take Over Gaming?
The Problem With Modern Monetary Theory

The Problem With Modern Monetary Theory

Modern monetary theory has been…

Another Retail Giant Bites The Dust

Another Retail Giant Bites The Dust

Forever 21 filed for Chapter…

  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