Scalper1 News
Major averages rose yesterday on lower volume as expected after an options expiration day. The NASDAQ Composite closed at another all-time high as we continue into earnings season, but breadth has remained negative over the past two days with losers outnumbering gainers by about a 2 to 1 margin. Much of the NASDAQ’s move to all-time highs has been a function of a narrow group of big gap-up moves in a number of super-cap stocks over the past few days including EBAY, GOOGL, and NFLX, while continued upside in names like FB and PCLN has also contributed to the index’s rise. Wearable camera and virtual reality company GoPro (GPRO) had a pocket pivot breakout yesterday. While the breakout is out of a low handle, this company is positioning itself to be a potential leader in the virtual reality (VR) space. This is a speculative play since the company’s technicals are off-the-bottom and its industry is highly competitive since much growth potential lies ahead. Nevertheless, GPRO blew the doors off estimates on its last earnings report. GPRO is due to report earnings today, so keep an eye on this one. Scalper1 News
Scalper1 News