2waytrading

$GPRO downtrend still is strong and more pain ahead

NASDAQ:GPRO   GOPRO INC
184 0 2
A few indicators will not help u see day to day price action and no one knows the future but if you carefully look at the trend's strength you may find a good reason to stay long or short til that strength is weakened. $GPRO             had strong rebound early this year and it failed to close above the monthly pivot point which also happens to fall right the 50% FIB from all time low to all time high. Now the second chance either long or even a new short position will come how price behaves at and around March low 37.13; close below that level may even suggest a single digit price next 12 months. Close above 49.75 may confirm the bottom and a possible price target $71.
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