"No warning can save people determined to grow suddently rich" - Lord Overstone

  • 29 mins Kenya: The Blockchain Capital Of Africa
  • 1 hour Can Anyone Compete With Netflix?
  • 2 hours Can Europe Beat U.S. Sanctions on Iran?
  • 3 hours U.S.-China Trade War “On Hold”
  • 5 hours Experts vs Investors: Who Has It Right?
  • 7 hours The Wild World Of Celebrity Endorsed ICOs
  • 23 hours The Five Most Important Market Indicators
  • 2 days Ethereum Blockchain Tops Bitcoin's In Latest Study
  • 3 days Is Gold Only For Long-Term Investors?
  • 3 days Record Refinancing Points At Next Big Housing Bubble
  • 3 days Bitcoin Forks Explained
  • 3 days PayPal’s Latest Acquisition Has Competitors On Edge
  • 3 days The Royal Wedding Could Bring Billions Into The UK
  • 3 days Goldman’s Crypto Trading Desk Is Just The Beginning
  • 4 days The Five Most Important Blockchain Trends In 2018
  • 4 days Walmart’s E-Commerce Rebound Fails To Boost Stock Price
  • 4 days Japan Threatens U.S. With $400M In Tariffs
  • 4 days Are Markets Showing Signs of A Topping Pattern?
  • 4 days Goldman: Tesla May Need To Raise $10B By 2020
  • 4 days The ‘Wolf of Wall Street’ Is A Multi-Million-Dollar Deadbeat
3 Tech Stocks With Real Upside

3 Tech Stocks With Real Upside

The stock market rally has…

PayPal’s Latest Acquisition Has Competitors On Edge

PayPal’s Latest Acquisition Has Competitors On Edge

PayPal’s latest acquisition allows the…

The Five Most Important Market Indicators

The Five Most Important Market Indicators

Stock markets can be overwhelming…

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