There has been so much chatter over the net on $GPRO so I decided to have a look and indeed there's a very nice setup for a potential bullish move.
$GPRO broke out of the daily down trend line (I know some will disagree with the way this line is placed, but that's how I place my trend lines) after a completion of a bullish AB=CD pattern and a daily double bottom.
Potential targets for the pattern are - 48.5$ and 53$
Notice that there is a wide stop loss here so use the proper risk management rules
This analysis was sent to the members earlier, as part of their weekly letter, among other trading ideas for the week.
Join the members here: www.themarketzone.net/
$GPRO broke out of the daily down trend line (I know some will disagree with the way this line is placed, but that's how I place my trend lines) after a completion of a bullish AB=CD pattern and a daily double bottom.
Potential targets for the pattern are - 48.5$ and 53$
Notice that there is a wide stop loss here so use the proper risk management rules
This analysis was sent to the members earlier, as part of their weekly letter, among other trading ideas for the week.
Join the members here: www.themarketzone.net/