GPRO, Z update 12/6

GPRO: Nothing happening yet but the chart is starting to look good with a lot of positive divergence and tightening bollinger bands foretelling a larger move should be coming, which should be up based on the TIs, oversold readings etc. Forewarned is forearmed.

gpro

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Z: Zillow rocketed higher with large accumulation volume. Looks to use intermediate iii of major 5 is underway. Intermediate ii dropped to the 62% retrace and price already closed above intermediate i. We see -using standard Fib-extensions- intermediate iii target $42-$43. Obviously the gap at $36,75 will be a magnet. All TIs turned back up today, which is a strong signal.

z

The weekly chart shows the big picture a bit better, with clearly wave 5 underway. A simple 5=1 relationship targets $41, but that doesn’t fit well with the aformentioned price target for intermediate iii of 5. Using the 1.764-2.00x extensions we get to $44-$46 for Z. That’s also right at next year’s R1 level 🙂 We can then re-assess if price wants to extend or not. Please note the upper black trendline at $42-$43 for this month. In line with intermediate iii.

z-2