It's no secret I've never been a fan of GoPro's (GPRO) products. And setting aside the fact that the company's stock trades horrifically, I would encourage those wanting to roll the dice on a rebound in the space to focus more on Ambarella (AMBA), and less on GPRO. To be clear, neither stock looks all that great. But given the number of readers still tracking GPRO, it's obvious some of you are anxious to try your luck juggling pin-less hand grenades.
If you do opt to trade AMBA, consider waiting for a close above the still declining 50-day simple moving average (roughly $58.25). And remember, as you rush in to catch a falling knife, bad things tend to happen when price is beneath a declining 200-day SMA. Use a stop-loss and don't get brave beneath $50.
Several of you requested an update on the iShares MSCI Brazil ETF (EWZ), and believe it or not, this one is beginning to look a bit better. I still believe buying prior to a new closing swing high (roughly $25.25) is probably premature. But those willing to take on additional risk could consider getting long now, with stop-on-close beneath $24-$24.10. Any close under $24 would lead me to believe a decent breakout is still a ways away.
Any trading or volume profile related questions can be posted in the comments section below, emailed to me at email@example.com or posted to my twitter feed @ByrneRWS.