After 7 months of stalking behind GPRO. based on my humble analysis and some trades in between, price has touched twice on the blue channel bottom/support.
Extending these two connected support upwards in parallel manner, to get that touch on the top at 110.
Thereby, my mid-term channel seems completed
On top of that, i thought i saw some cyclical pattern. And yes it is.
From the first trading day to the top, it took 71 bars (71 trading days to get price from bottom to top)
Even more amazingly, it took yet another 71 bars for the price to retrace back to around 46, with a double DOGGIEs at the bottom!
If this cycle of 71 bars to be repeat again, GPRO could be on the way to all time high..
but do your own analysis!
Extending these two connected support upwards in parallel manner, to get that touch on the top at 110.
Thereby, my mid-term channel seems completed
On top of that, i thought i saw some cyclical pattern. And yes it is.
From the first trading day to the top, it took 71 bars (71 trading days to get price from bottom to top)
Even more amazingly, it took yet another 71 bars for the price to retrace back to around 46, with a double DOGGIEs at the bottom!
If this cycle of 71 bars to be repeat again, GPRO could be on the way to all time high..
but do your own analysis!
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breaks