GoPro has been one fantastic mover since it went public in 2014. Although it always seems to be overvalued, the “camera on a helmet” company boasts robust sales and profits and is mostly unchallenged in the industry. Further, their growth internationally is reaching some epic proportions. The biggest complaint for GoPro? They don’t make enough money for a growth multiple.
As we know, it is the technicals and charts the drive the action in the short term, and while there is always some volatility in this name, we are seeing some good setups occurring now. The breakout this week on good turnover, the MACD buy signal, and another higher close has this stock targeted for much higher levels. Last summer this stock saw high $90’s, which is about 50% higher from where it currently sits.
Explosive Options members are in the Aug 57.5 calls currently, which are already up nearly 150% as of the Monday 7.20 close.
GoPro Chart Analysis
Take a deeper dive into the chart action (Nasdaq: GPRO) and learn how to read the technicals and my analysis as I mark up our chart of the week.
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GoPro, Inc. develops hardware and software solutions to alleviate consumer pain points associated with capturing, managing, sharing, and enjoying engaging content. The company offers HERO line of capture devices, such as cameras; premium accessories, including battery BacPac, smart remote, and LCD touch BacPac accessories; and mounts comprising equipment-based mounts consisting of helmet, handlebar, roll bar, and grip and tripod mounts that enable consumers to capture content while engaged in a range of activities, as well as mounts that enable customers to wear the mount on their bodies, such as wrist housings, chest harnesses, and head straps.