GoPro Precise Target And Short Level $GPRO

GoPro Inc (NASDAQ:GPRO) is on an amazing run again today. This is the third day in a row this stock is surging. Where is the top? Where is GoPro Inc going to be a high reward, low risk short? The answer is revealed by using a method called symmetry of moves. Please note the chart below. This chart shows that when GoPro Inc came public, it had a $21.20 move higher before pulling back. The pull back lasted for a few months before breaking out recently. The way you calculate the target and short level is by taking the low of the pull back, just prior to the recent breakout, then, add the same amount as the first move (+$21.20). This gives you the symmetry of the move and ultimately high target/short level. The target on GoPro Inc is $58.40.

Gareth Soloway
Chief Market Strategist
InTheMoneyStocks.com