This has been a wild year for GoPro Inc GPRO 3.33%. After such an up and down 2014, what should shareholders of GoPro expect in 2015?
GoPro, makers of high-resolution sports/action cameras, went public back in June. After IPO shares priced at the high end of the projected rage ($24), the stock surged 31 percent to $31.34 on its first day of trading.
After peaking as high as $98.47 in October (a gain of 310 percent from the IPO price), GoPro stock started a downward slide. In mid-December, GoPro dipped as low as $53.64, a 45 percent pullback from the October highs. The stock has since bounced back to above $65, preserving 170 percent gain for IPO investors.
GoPro has been in a clearly-defined downward trading channel since early October. The support line at the bottom of the channel is currently around the $51 level, and resistance at the top of the channel is currently around $75. Until the stock breaks above that downward-sloping resistance line, GoPro may continue to drift lower.
Analysts Weigh In On 2015
Analysts aren’t predicting …
Read the rest of this article (and all my other articles) for free on Benzinga by clicking here
Want to learn more about the stock market? Or maybe you just want to be able to look sophisticated in front of your coworkers when they ask you what you are reading on your Kindle, and you’d prefer to tell them “Oh, I’m just reading a book about stock market analysis,” rather than the usual “Oh, I’m just looking at pics of my ex-girlfriend on Facebook.” For these reasons and more, check out my book, Beating Wall Street with Common Sense. I don’t have a degree in finance; I have a degree in neuroscience. You don’t have to predict what stocks will do if you can predict what traders will do and be one step ahead of them. I made a 400% return in the stock market over five years using only basic principles of psychology and common sense. Beating Wall Street with Common Sense is now available on Amazon, and tradingcommonsense.com is always available on your local internet!