TradeVulture
Short

GPRO: Disect the Distribution

NASDAQ:GPRO   GOPRO INC
393 0 2
Looks like we have a two segment primary leg up, where leg segment 2 has been retraced. Price is currently retracing the immediate leg to the left during the distribution process. I've included some significant levels of support that have been left untested. Price will eventually test these levels. Once price loses this 89 level, I expect a large move down to begin retracing the leg segment 1 of the primary leg. Remember, the bigger the base, the larger the space. This means distribution could take time, especially in low volume environments. As this progression plays out, be sure to rotate to the next larger time frame until you understand what's happening.Distribution is proceeded by a move down, accumulation by a move up. See you @ 70.
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