Stocks update 9/23/2015: BABA, FIT, GRPO


BABA: China and Chinese company’s have not done well recently, and BABA is no exception. It appears it’s gunning for $54-$53, where (red) intermediate c=1.618x a, from b; and where (yellow) major c=a, also from b. That’s really all there is to it. Counting the waves down from intermediate b, we have a 1,2,i,ii,iii,iv,3,4 completed. Hence only 5 is left to target the $53ish zone.  Not shown here, but there’s heavy + div developing on the daily TIs. Keep an eye on it.



FIT: One of our members asked me to look into FIT. Another IPO that hit the streets, ran and cramped up before the finish line. Why? FIT is just a bunch of bundled a, b, and c’s. There’s not much more to make from it. IMHO it peaked in august for a Primary A and is now in major b of Primary B. Hence, upside will be limited. Alternatively, major b has already peaked (replace the red intermediate a high made last Friday with a yellow major b). In that case Primary B will target $21s based on a major c=a, from b relationship. Regardless, FIT will be very ILL over the foreseeable future to complete Primary B. Then Primary C will be very trade-able IMHO and take FIT to new ATHs. This is in line with the expected primary V for the overall markets. FYI, please note the 1.764x relationships. FIT appears to “like” these. Important to keep in mind going forward when setting price targets



GPRO: This ticker could be gunning for $28.50. that’s where minute v=i, and a full 100% retrace of Primary A will have occurred to complete Primary B. The Primary C should either retest the A high a $100 (C=A) or go much higher. We’ll have to wait and see for that. But for sure that will be a very trade-able wave, likely in 5 waves up. Also this will coincide well with Primary V of the overall market. Not shown here, but there’s heavy + div developing on the daily TIs. Keep an eye on it.