• 14 hours China: The New King Of Caviar
  • 20 hours Gold Mid-Tiers Rally On Fresh Earnings Reports
  • 2 days Can The British Pound Overcome Brexit?
  • 2 days Is A Gold Breakout Near?
  • 3 days Federal Reserve Downgrades U.S. Growth And Cuts Rate Hikes
  • 3 days Disney Beats Out Comcast In $71.3B Mega-Merger
  • 3 days The Feds Continue To Prop Up Equities Markets
  • 3 days Bejing's Sway In South China Sea Is Fading
  • 4 days Saudis Eye Billions As Stocks Get Emerging Market Boost
  • 4 days Airbnb In Acquisition Mode Ahead Of IPO
  • 4 days Gold Hangs At $1,300 Ahead Of Fed Meeting
  • 4 days Champagne Sales Slow As European Economic Worries Grow Louder
  • 5 days Putin Signs “Digital Iron Curtain” Into Law
  • 5 days Russian Metals Magnate Sues U.S. Over Sanctions
  • 5 days Tesla Looks To Jump Into Indian Market
  • 5 days Global Banks Lay Groundwork To Re-Inflate Asset Prices
  • 6 days Homeowners Experiment With Risky New Investment Trend
  • 6 days U.S. Tech Stocks Look Increasingly Vulnerable
  • 6 days De Beers To Expand World’s Most Profitable Diamond Mine
  • 6 days Ford CEO Gets Raise After Massive Layoff Round
The Chatroom Cartel Running Global Bond Markets

The Chatroom Cartel Running Global Bond Markets

Eight major banks have been…

Lending: The Good, Bad, And Ugly

Lending: The Good, Bad, And Ugly

Aristotle said, “The most hated…

  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