I have followed GoPro’s stock (NASDAQ: GPRO) since it’s IPO. I actually wrote a blog about why it may top out at $98 – go ahead and read it.
On the way down, I offered a few potential trading targets and price supports using chart pattern recognition.
GoPro (GPRO) has literally slid all the way down the hill. From a high of 98 dollars all the way down to 4 dollars. And I monitored this slide the entire time. Check out my last blog on the possibility of hitting $4.
Now that the lower $4 target has been hit, investors will need to stay on top of this one. If this stock is to survive, I believe that it needs to hold above $4. I will be watching trading volume closely to see if institutional accumulation begins.
If it does, then this $4 level could provide support for the coming months, and years. WOW.
Thanks for reading.
GoPro (GPRO) “Weekly” Stock Chart
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Author does not have a position in mentioned securities at the time of publication. Any opinions expressed herein are solely those of the author, and do not in any way represent the views or opinions of any other person or entity.