Tuesday, October 13, 2015

GPRO GoPro 2-Hour Chart

The GoPro daily and weekly charts were posted on the weekend; you can scroll back a page of so or type 'GPRO' into the search box at the right to bring up prior charts. The charts were set up with positive divergence so Keystone thought a knife-catch was a good risk-reward trade. They do not always work out as well but GPRO launched the next day from 27 to above 30 a +11% pop in a heartbeat. Keystone took the dough and exited the trade (left some on the table exiting a tad early) and has been watching to reenter. There is a gap below and note how price keeps playing coy not filling the gap completely although on the 1-hour chart price did fill the gap if including intrahour price prints.

Keystone bot GPRO a short time ago opening a new long position. The gap below, the purple support line and the lower green trend line are all in play but the attractive positive divergence from the bounce this week remains a strong force for upside. Since all the indicators went possie d on the chart there is no reason for price to come back down; it may simply start higher from here. If it does come down to the gap or lower green line Keystone will add. GPRO looks encouraging from the long side and with the high short interest a strong move may occur to the upside. As always, the knife-catches are extremely dangerous trades only for those willing to lose their money. GoPro will be interesting to watch going forward. This information is for educational and entertainment purposes only. Do not invest based on anything you read or view here. Consult your financial advisor before making any investment decision.

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