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.

註釋

Reference purchase price at the time of writing this comment = $10.50-10.55/share.

交易進行

The stock traded as high as 12.47 intraday on Fri.
Those who acted on this idea and sold at a profit: well done!
Those who bought and are still long should be some 6% up and should keep holding.
Incidentally, the stock on Friday completed a somewhat crooked Head & Shoulders.
The distance between the top of the H&S and the neckline ($4) was nearly exactly matched ($3.6) when the stock recorded an intraday low at $9.90.
Rebound full technically justified.

交易進行

Back where we started thanks to Mr. Trump. Stock oversold. Keep position or buy more. Stop loss at 9.75, the low of today.

註釋

Closing this thread and opening a new one shortly. Keep long this name.

手動結束交易