A couple weeks ago we took a look at Go Pro because it was getting near the top of its price channel and had some momentum. The price did not keep it’s momentum and it slid down and now a sideways. No really good fundamentals with Go Pro at the moment and the price is almost at the IPO.
Currently the rice is trying to mount a breakout (see chart above). The down trend resistance is being broken and the price is above the EMA. Dynamic support and resistant levels are about $28 and $28.77 respectively. If the break above trend holds a short term long looks good. Chances are the price will come back to test support though which also acts as a stop raid. Until there is good news or an anticipated earnings report Go Pro should be bought and sold at the moving averages because until the fundamentals change we are only looking at playing bounces and not a real trend.
If you are mainly a crypto trader you can trade Go Pro with Bitcoin on 1Broker.com, click the link and take the tour. Chart is powered by the SCMR Analysis Suite on Tradingview.com