GPRO is a strong brand name, but with a dying userbase / lack of growth. The company has no major turnaround planned, but the chart is interesting. The stock seems to be currently consolidating as the historical simple moving average (white line) is working its way down toward the price - which often leads to a jump. Another candidate for the Santa Claus rally? Or, will the "value" lead to an acquisition? Nothing is guaranteed, but something may be brewing. While not a long-term "buy and hold" candidate for me (personally, unless the business changes or growth seems relevant), it looks very intriguing from a technical analysis perspective. Thus, at $1.35, GPRO is in a personal buy zone.Target #1: $1.70
Target #2: $2.00
Target #3: $2.50
Target #4: $2.88 (if some good news emerges...)
Note
Added another position at $1.00 for a cost average of $1.15.Note
Added 3rd and final position at $0.64 for a cost average of $0.91.Trade closed manually
Exited at $0.99 (after cost averaging down to $0.91) for an 8.8% gain. This was absolutely a bad call on my end (i.e. too early of an entry) and given the fundamentals, patience for first entry under $1 should have been used. Who knows if bankruptcy or an acquisition is ahead, but it was, and continues to be, a major gamble for an "investment". Better opportunities exist elsewhere. Thus, trade is closed.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.