Per the chart above, the next significant level is the high print going back to October of 2015. That equates to a ~61% gain from current levels.
As noted above, 33% of the float is short, which tells me there is POTENTIAL for more upside.
Let's look at GoPro's recent quarter.
"Revenue will be $190 million to $210 million in the first quarter, GoPro said in a statement Thursday after the markets closed. Analysts were expecting $267.6 million, on average. In the fourth quarter, sales rose 24 percent to $540.6 million, also missing analysts’ average estimate for $573.3 million".
In addition, they have had a string a bad news starting in November when they had to recall their Karma drone after some starting FALLING OUT OF THE SKY due to inefficient battery life.
They lowered guidance on gross margin and are cutting cost aggressively.
The article noted they are pairing back their ambitions to build a media platform around their action videos.
The best line in the article was this-
"For now, the company is working on making the process of using a GoPro camera from capture to sharing as easy as possible."
This would give me hope they are starting to concentrate on delighting their core customers instead of extending their product line in categories where they will not win the share of mind.
If the stock can close the week up in spite of a terrible quarter, that would tell me the line of least resistance might be higher.
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