This idea is a follow-on from the previous, pre-earnings options strategy
We assume a long position at $122 (for those who got exercised on the put sale)
This is -3.3% away from the 118 support (channel bottom and MA200) and -1% away from the last close
Play the up-channel rebound with a target at 133.50 (previous high) and a stop loss at 117.00
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...
