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Fan Yang

GoPro Has Decent Reward to Risk Here Around 9.00

Shares of GoPro (GPRO) has been trading sideways throughout 2016. There were some bullish attempts, but price kept falling back down to the 8.60-9.00 support area. 

GPRO Daily Chart 1/6

(click to enlarge)

Key Support:
- As we can see in the daily chart GPRO has falling to the 8.60 support that has been held in May. 
- We can also see that price has been consolidating above this support in December. 
- The bearish trend is being checked here, but it is still premature to say it is bullish.
- If we want to buy when the market is not bullish, we better have strong reward to risk to make up for the weak probability of the market turning bullish - although the consolidation does help the case for a price bottom.

Reward to Risk:

- I think a stop will have to be below 8.60. 
- Let's say 8.00 is the stop.
- If we enter at 9.25, then we are risking about 13.5%.
- Let's say we create 3 separate positions with essentially the same size. Let's say the targets are T1: 11, T2: 12, T3:14. This scenario assumes the market is neutral-bearish, and has not turned bullish in the long-term. 
- The maximum profit would be 33%. 

(if this doesn't make sense, please comment about it, and I will break it down further)

Latest News:

Gopro (GPRO) is relaunching it's Karma Drone. This is the big headline at the moment. Whether price will pop to 14 or drop further to 8 could depend on whether this campaign picks up steam or flops. 

According to, there's been a few snags: GoPro Relaunching Karma Drone as Action-Camera Sales Slow

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