GPRO is quietly preparing for a huge rise.
GPRO is quietly preparing for a huge rise. I wouldn't have given much for Gopro shares 3 years ago, but apparently the complete restructuring of the commercial and corporate infrastructure, the rollout of cloud services, has worked out very well for Nick Woodman and his team. The WALL STREET view is that if a Tech company goes from 100 usd to 1.5 usd, it's over. Well that's not the case with Gopro. It was reborn as a brand new and dynamic company. Let's look at the technical picture. The movement of the Gopro wave is well described by 3 axes. The cross points of all three axes are the 15-day D1ATR data. This means that the axes capture 6 months of data. You can see a pink axis that connects the D1ATR axis to the rising wave and two white D1ATR axes that define the two edges of the accumulation phase. Calculated with 14-day average values, of course. It can be seen that a flag pattern is forming between the two white D1ATR axes. Alternatively, the already familiar pink ATR axis is given, which provides a resistance level for the rising wave. To summarize. Going forward, I expect Gopro to exit the accumulation flag formation and start to move up. This would imply a rise of nearly 121% from the current level. Target price : 23.32 usd
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