• Return to Headlines

Possible Bearish Inside Day Candle Pattern Detected for Gopro Inc-Cl A (NASDAQ:GPRO)

By David Diaz

SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in Gopro Inc-Cl A (NASDAQ:GPRO) based on the price action in the company's shares. Today's price range of $4.14 and $4.21 is within yesterday's high and low of the day. This trading action often signifies indecision by bulls and bears to drive prices higher or lower and often implies a possible change in trend. Owners of Gopro Inc-Cl A may want to consider a possible hedge in the event a pullback occurs. Look for confirmation in the next few trading days.

Potential upside of 26.5% exists for Gopro Inc-Cl A, based on a current level of $4.18 and analysts' average consensus price target of $5.29. Gopro Inc-Cl A shares should first meet resistance at the 50-day moving average (MA) of $5.11 and find additional resistance at the 200-day MA of $5.59.

In the past 52 weeks, shares of Gopro Inc-Cl A have traded between a low of $3.91 and a high of $7.64 and are now at $4.18, which is 7% above that low price. In the last five trading sessions, the 50-day moving average (MA) has fallen 2.8% while the 200-day MA has slid 1%.

GoPro, Inc. develops and manufactures wearable and gear mountable cameras along with related accessories. The Company's products are designed for use in activities ranging from action sports to professional videography. GoPro also offers mobile applications and software to enable users to edit, manage, and share their photo and video files.

SmarTrend recommended that its subscribers protect gains by selling shares of Gopro Inc-Cl A on June 7th, 2019 by issuing a Downtrend alert when the shares were trading at $5.89. Since that call, shares of Gopro Inc-Cl A have fallen 28.6%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Keywords: bearish inside day candle gopro inc-cl a

Ticker(s): GPRO