Medium term view - GOPRO INC : The RSI is rising.
The trend has been momentarily interrupted by a correction. It approaches the resistance at $5.93, which also is the invalidation level. It should cause a fall and resume the bearish trend. The next target is at $4.26. The invalidation level is below $8.80.Arguments :
- The RSI is rising.
- The reaction at the resistance is weak, we anticipate its break soon.
GoPro makes cameras, and mountable and wearable accessories. The company sells its products globally through retailers, distributors and on gopro.com. The company's products include: HERO8 Black, which is a camera featuring HyperSmooth 2.0 image stabilization, TimeWarp Video 2.0, built-in mounting, live streaming, cloud connectivity, voice control, improved audio and touch display; MAX, which is a 360-degree waterproof camera featuring MAX HyperSmooth image stabilization, 360-degree MAX TimeWarp Video, MAX SuperView, PowerPano, built-in mounting, audio, live streaming, voice control and a front facing touch display; and GoPro Plus, which is a subscription service that provides a camera protection plan.
DayByDay is an independent research company providing global macro and single stock analysis, recommendation and allocation based purely on behavioural finance methods. Those include long term cycle analysis, sentiment analysis, and technical trigger. DayByDay serves all clients in need of practical and precise publications to make effective market decisions, on any time horizon, from a few hours to a few years.
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