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GoPro, Inc.

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GPRO trade ideas

A lot of bad news in the price: Get exposed.This thread takes over from the previous one: "Oversold: Buy the dip." BAD NEWS OUT OF THE WAY? The stock was demolished after disappointing earnings and the drone debacle. This lead many analysts to downgrade it (current consensus rating = HOLD) with an estimated average target price at the current money. There currently seems to be a lot of bad news in stock. Short levels have also sky-rocketed recently. CROOKED H&S OUT OF THE WAY During this debacle, GPRO completed a somewhat crooked head & shoulders formation and the stock retraced back 55% of the distance from the top of the head to the neckline. It currently looks like it stabilizing in a flat consolidation channel / new trading range. WHERE TO NOW? Expecting the stock to take the same time to rebound as it did to complete the H&S - 3 months. Expecting limited downside from here, although more disappointments or a rough market could take it below the historical low, towards the 8.00 level. THREE TRADING STRATEGIES 1. Outright Long Buy here and hold for a breakout above 11.35. Stop loss at 9.75, as trading at/below that level would invalidate the rebound. 2. Synthetic long only Pay $0.43/share for a call option expiring on Jan 20'17 to purchase the shares at $12. 3. Costless options strategy Buy the Jan 20'17 $12 call at $0.43/share and pair it with same maturity $8 put at the same price. $8/share is a good place to go long if the stock continues to slide because: a) it represents a 90% completion of the H$S formation target, b) it is 7% below the historical low, and c) that level would probably spark take-over discussions to pull the stock back up... Trade safely.
NASDAQ:GPROLong
by HAL9000
Oversold: Buy the dip.Negative news regarding operational manufacturing issues at GPRO have brought the stock down more than 20% in 2 days. The stock currently looks majorly oversold, as the market discounts a disappointing XMas season ahead and less than satisfactory Karma drone sales. This looks overdone. betting on short-term rebound as shorts take profits. Buy at the market with a stop-loss at the recent low of $9.90. Money at risk $0.65/share. Target $12.00/share. Reward/Risk = 2.3/1.0.
NASDAQ:GPROLong
by HAL9000
Buy GOPRO INC. (fundamentals)Really good reviews on their new KARMA drone. Super competitive and meeting expectations. The company has been having a bit of problems with the supply chain but they are working on it. The new drone is just superior to their competition. We still dont have the numbers about the company´s performance with the new drone, for more conservative investor you should wait, i bought a third of my position now and i will update whenever we have numbers. But as investors always say: "taste your company" and karma drone tastes so damn good.
NASDAQ:GPROLong
by JoaquinEsteban