I highlight how crazy GPRO shares are in this chart since it dropped 57% from its highest low of trading near the $91 level. It was sickening to me to see how insane the price of this stock was relative to its revenues and it seemed only a matter of time before it came crashing down to earth. Trading is a difficult game and staying short amidst the crazed buying is difficult. You can see where I posted my bearish charts on GPRO and yet I didn't capture the decline in GPRO shares.
What I want to show you here is how well GPRO acts around its earnings release levels which are highlighted in GREEN lines on this chart. You can really SEE how the market responds to these levels.
It looks like GPRO may be mounting an attempt to rally to the 51 level where it reported earnings last quarter.
Although long term I am not a bull on GPRO due to its insane valuation, from a trading perspective it could trade up.
Life is short - trade hard.
Tim
45.50 GPRO 2:38PM EST 4/22/2015
What I want to show you here is how well GPRO acts around its earnings release levels which are highlighted in GREEN lines on this chart. You can really SEE how the market responds to these levels.
It looks like GPRO may be mounting an attempt to rally to the 51 level where it reported earnings last quarter.
Although long term I am not a bull on GPRO due to its insane valuation, from a trading perspective it could trade up.
Life is short - trade hard.
Tim
45.50 GPRO 2:38PM EST 4/22/2015
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