GoPro Inc (NASDAQ:GPRO) May Not Hold $5

GoPro Inc (NASDAQ:GPRO) May Not Hold $5

GoPro Inc (NASDAQ:GPRO) May Not Hold $5

This one is the ugliest of all the Unicorns, Over hyped, Overvalued and Under performing.

The technicals indicate we have a bounce due but we certainly feel this is the deadest of dead cat bounces, if it rallys short it, nothing can save GPRO now.

The Institutions are exiting and the shareholder base is rapidly becoming fanboys and unsophisticated investors.

Institutional Holders

% Shares Owned: 40.45%
# of Holders: 283
Total Shares Held: 41,208,274
3 Mo. Net Change: -7,779,398
# New Positions: 40
# Closed Positions: 54
# Increased Positions: 111
# Reduced Positions: 140
# Net Buyers: -29

GOPRO INC A closed down -0.290 at 9.970. Volume was 38% below average (neutral) and Bollinger Bands were 17% narrower than normal.

Open High Low Close Volume___
9.910 10.300 9.850 9.970 4,395,228

Technical Outlook
Short Term: Oversold
Intermediate Term: Bullish
Long Term: Bearish

Moving Averages: 10-period 50-period 200-period
Close: 10.62 11.21 18.42
Volatility: 49 77 91
Volume: 4,576,880 6,821,469 8,481,926

Short-term traders should pay closer attention to buy/sell arrows while intermediate/long-term traders should place greater emphasis on the Bullish or Bearish trend reflected in the lower ribbon.

Summary

GOPRO INC A is currently 45.9% below its 200-period moving average and is in an upward trend. Volatility is extremely low when compared to the average volatility over the last 10 periods. There is a good possibility that there will be an increase in volatility along with sharp price fluctuations in the near future. Our volume indicators reflect volume flowing into and out of GPRO.O at a relatively equal pace (neutral). Our trend forecasting oscillators are currently bullish on GPRO.O and have had this outlook for the last 3 periods.

Momentum

Momentum is a general term used to describe the speed at which prices move over a given time period. Generally, changes in momentum tend to lead to changes in prices. This expert shows the current values of four popular momentum indicators.

Stochastic Oscillator

One method of interpreting the Stochastic Oscillator is looking for overbought areas (above 80) and oversold areas (below 20). The Stochastic Oscillator is 19.1740. This is an oversold reading. However, a signal is not generated until the Oscillator crosses above 20 The last signal was a sell 2 period(s) ago.

Relative Strength Index (RSI)

The RSI shows overbought (above 70) and oversold (below 30) areas. The current value of the RSI is 41.80. This is not a topping or bottoming area. A buy or sell signal is generated when the RSI moves out of an overbought/oversold area. The last signal was a buy 15 period(s) ago.

Commodity Channel Index (CCI)

The CCI shows overbought (above 100) and oversold (below -100) areas. The current value of the CCI is -69. This is not a topping or bottoming area. The last signal was a sell 2 period(s) ago.

MACD

The Moving Average Convergence/Divergence indicator (MACD) gives signals when it crosses its 9 period signal line. The last signal was a buy 13 period(s) ago.

Aroon

There were no Aroon signals generated today. The last signal was a Sell 108 period(s) ago.

Directional Indicator

There were no Directional Indicator signals generated today. The last signal was a Sell 108 period(s) Ago.

MACD

There were no MACD signals generated today. The last signal was a Sell 106 period(s) Ago.

Stop and Reverse (SAR)

There were no SAR signals generated today. The last signal was a Sell 1 period(s) Ago.

Summary

The current market condition for GOPRO INC A is:

Very Bearish

The close is currently Below it’s 200 period moving average.
The close is currently Below it’s 90 period moving average.
The close is currently Below it’s 30 period moving average.

GoPro, Inc. produces mountable and wearable cameras (capture devices) and accessories. The Company’s products are sold globally through retailers, wholesale distributors and on its Website. It enables people to capture compelling, immersive photo and video content of themselves in their day to day life, as well as participating in their favorite activities. Its products include HERO line of capture devices. From extreme to mainstream, professional to consumer, GoPro enables the world to capture and share its passions in the form of immersive and engaging content. It develops product solutions to enable consumers to capture, manage, share and enjoy some of the important moments in their lives. GoPro integrates with mobile devices through the GoPro App, which enables engaging self-capture during virtually any activity. It offers two applications, including GoPro Studio and GoPro App, which facilitate posting of photos and videos directly to social networks and content platforms.

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Shayne Heffernan Funds Manager at HEFFX holds a Ph.D. in Economics and brings with him over 25 years of trading experience in Asia and hands on experience in Venture Capital, he has been involved in several start ups that have seen market capitalization over $500m and 1 that reach a peak market cap of $15b. He has managed and overseen start ups in Mining, Shipping, Technology and Financial Services.

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