AMBA and GPRO update 1/5/2016

AMBA: Question on everybody’s mind is if this ticker has finished after having had a tremendous run from 2012 through most of 2015. Well, it has bottomed into our preferred target zone, but no signs of any reversal. Instead, price is below the two white -important- trendlines and needs to break above the lower one to confirm a bottom is in. More importantly, price needs to stay above the green trendline. But, once we get the breakout we can set price targets, which will far exceed that of Primary I; probably in the order of $275-$300 for V and $175-$250 for III, from the recent low, assuming that low is Primary II and assuming standard Fib-extensions for 3rd and 5th waves. If these assumptions are not correct, then I expect the green line to be tagged at about $40, which will lower the price targets by about $10 each.

amba

 

GPRO: Another ticker that doesn’t get much love. And also here, many ask if it has bottomed or not. Well, the answer is… maybe… We know… but such is the life of stock prices: you never know for sure. Question is if only iii of C has bottomed or if that was c of C and thus the low is in. In the first case, we expect a bounce to about $24 and then one stab lower to about $15, finishing (red) iv and v. Today’s high at 20.50 may have been it for iv… In the 2nd case, the low is in and we should expect much higher price, which will first attack the purple and blue S/R resistance lines at $32 and $37. Above that we find S/R at $42-$44, $52 and $64. It’s hard to foretell already how high GPRO can go, as we’re not sure if the low is in, and we need first clear 5 waves up -giving us the length of major wave 1- to then better determine where 2, 3, 4 and 5 will end. So for now, focus on these levels: $15, $24, $32, $37, $42-$44, $52, $64. That’s 400% difference between the lowest and highest…

gpro