stock update 10/8/2015: BABA, GPRO, HPQ, SBUX


BABA: Starting to look really good for BABA, as it completed 5 waves down from (red) intermediate b. Although there’s an hour left today, it appears most likely it will confirm a new uptrend today and this that the LOW is on. I am not sure about the price target for the next bigger wave up; but resistance is at $85-$90 so let’s go for that first

babaGPRO: Appears -according to wallstreet- that no body wants or will buy action cameras anymore… this stock has been beaten to pulp and beyond. However, everything has an end, and also this down cycle. Looks like a nice ending diagional is forming targeting ideally the low $20s, but mid-$20s will do fine too. After I expect  full retrace of all of major c to the major b high.

gproHPQ: Major 4 is in. I expect new highs Note how price moved above the white descending trendline that has kept any upside in check since the major 3 high. We can count 5 waves up being completed and for those who are not long HPQ can buy the next retrace IMHO.

hpqSBUX: Looks like it’s making a leading diagonal for intermediate i of major 5. Once it retraces for intermediate ii, which will likely be in sync with the expected major 2 for the general indices it be a great entry opportunity. I expect intermediate ii to bottom in the mid- to low-$50s