sell AT pt? OR LET IT RUN?
So we are basically at the target we have set ourselves to sell $60ish... Plus or minus a couple bucks I guess. Not a bad run from the high $30s. This is an incredible push. Maybe too good to last.
In the world of stocks and market, no bull runs last forever. There will always be a correction, drop, or re-test. This is the nature of the market. It is not "manipulated" but traded. And that is what traders do for a living. The move money around.
So money was made with $GPRO. And traders don't have the appetite for it at the moment.
But under the stock price is a solid foundation made of good sales, excellent earnings and guidance, new products in hardware and software, and collaboration with other services such as Google.
Ask yourself (and I am not talking to you day traders), do you believe in the product and managements (specially the later here). We do. We believe in the ecosystem GoPro creates, and we just can;t have enough of the CEO. So our money and yours should stay with GoPro and ride it for the next cycle: Summer+3rd Quarter Announcements+Shopping Season.
We stay our grounds: We buy at every dip.
Now, let's look at the charts and get some points our for you day traders, swing traders, and long holders.
The normal Daily candle chart gives us a good idea of the "fight" being put on by the traders. The MACD has crossed down indicating a down trend. What we like is that it is not a very strong cross at this point. We also like that RSI reset very quickly in just a few candles without much of a price drop. Here below:
In the world of stocks and market, no bull runs last forever. There will always be a correction, drop, or re-test. This is the nature of the market. It is not "manipulated" but traded. And that is what traders do for a living. The move money around.
So money was made with $GPRO. And traders don't have the appetite for it at the moment.
But under the stock price is a solid foundation made of good sales, excellent earnings and guidance, new products in hardware and software, and collaboration with other services such as Google.
Ask yourself (and I am not talking to you day traders), do you believe in the product and managements (specially the later here). We do. We believe in the ecosystem GoPro creates, and we just can;t have enough of the CEO. So our money and yours should stay with GoPro and ride it for the next cycle: Summer+3rd Quarter Announcements+Shopping Season.
We stay our grounds: We buy at every dip.
Now, let's look at the charts and get some points our for you day traders, swing traders, and long holders.
The normal Daily candle chart gives us a good idea of the "fight" being put on by the traders. The MACD has crossed down indicating a down trend. What we like is that it is not a very strong cross at this point. We also like that RSI reset very quickly in just a few candles without much of a price drop. Here below:
For the Weekly charts we like to use the Heiken Ashi candles for a better Long term perspective. These candles are averages instead of price action candles. They give a simpler view of the direction of the candle Long Term, so be cautious if you are thinking about day trading. We see a continuation of the MACD lines which indicate a bullish trend is alive. RSI is at the overbought condition but interestingly has not gone bat crazy as it had done before (volume not getting there?). The last two candles are smaller in size which indicate a rest of the price action. Below:
For you traders, I think now would be a good time to move on if you have a better trade setup. For swing traders and long holders I would consider adding to your position if this heads to $55.
GoPro is a winner stock. It has cleansed itself from "most" MOMO traders. It will now fly or fall based on earnings and news. Not from dumps. Since every trade is a bet. Our bet is this stock heads to $65 by September.
So Do you Follow Us? ;)
GoPro is a winner stock. It has cleansed itself from "most" MOMO traders. It will now fly or fall based on earnings and news. Not from dumps. Since every trade is a bet. Our bet is this stock heads to $65 by September.
So Do you Follow Us? ;)