With all of that said, the technical condition of GoPro appears to be stabilizing. The move up from $28 shows some new buying and the high zone from $30.50-$27.07 has been breached, indicating to some of use technical watchers, that the sellers may be out of the way here.
Upside target to the 38 level over the next 1-3 months. Use a 2-3 range stop down near 25. The best place to enter is down around $29.30
$30.34 GPRO 10/20/2015 3:26PM EST
It's very disappointing to see how GPRO has acted relative to the strength in the overall stock market averages, but that is the way GPRO has been acting. It is very independent of the market.
I will not give this idea much room and will tighten the stop to 28 from 25.34. I don't want to see this linger here near 29 for much time at all. Earnings are due next week, so you could really see fireworks up or down (see Pandora's huge drop Oct 23) next week. So, if you can put this trade on with options instead of stock positions, you'll be preventing a disastrous loss if GPRO announces less than stellar results and forecasts for the holiday selling season.