On October 8, 2014, when GoPro (GPRO) was trading at $89.93 we concluded our review of downside targets for the stock with the following commentary:
“This review of GPRO is to determine how accurate the downside targets are. In addition to the current downside targets, the upside target is indicated to be $103.40. The parabolic nature of the current rise may not be over. However, depending on the length of time that passes, investors/speculators interested in GPRO would do well to wait for the stock to fall below the ascending $45.50 before reconsidering the merits of this stock.”
Below is the same chart that was used from October 8th with data to the present.
GoPro has achieved our downside target and appears to be on the rebound assuming it can exceed the $60 level. Speculators should keep an eye on the $31.28 level as it is a legit downside target if the $60 level fails to hold. This means putting only ¾ of the intended amount into GPRO with the remaining ¼ for the “unlikely” event of falling to $31.28.