The exchange rate moves in a wider band moving sideways. It is in front of a second upward section of a dual ascending wave structure. The second rising wave structure target price is 8.3 usd.
@Captain_Walker, It is not a simple case for the GPRO. There have been a lot of mistakes over the years, so investors' confidence is lost. New contract designers with JABIL have not even started really (it's a car supplier) where the new electric mirrors can be technically supported by Gpro.
Captain_Walker
⋅
@meszaros, I'm not even interested in there 'fundamentals'. On Monday/Tuesday I'm looking to go long. Even if the share price goes to zero or near zero, it's an acceptable loss I can take on a position. GoPro is a market leader in its particular line of products. Investors behave in savage ways when confidence is lost.
A only in Feb 2016, I was into Alibaba when price hit a near rock bottom at $60 - and I bottled out - on bad news about fake products etc (not relevant to GoPro). Investors dump BABA like a hot potato. Panic struck. I was left behind because I didn't take a reasonable stop-loss. When a stock is near the bottom of the market the usual fear is "OMG.. is it gonna die?!"
Well with GoPro, if it dies the acceptable loss is so favourable. Like on my live platform, 100 shares with stop-loss down at bust level, a margin of only $44 and a loss of $400 for. That's a loss I'd happily take on. I mean this is nothing compared to the worry of Alibaba going from $60 to zero (back in 2016).
At the mo, I'm thinking I'd be stupid not to take the acceptable loss on GoPro. In essence it's a $400 bet that price may double, triple or more in say 1 - 2 years.
meszaros
⋅
@Captain_Walker, I understand. I'm personally interested in Gpro. I have Gpro shares. I also think in the longer run. My target prices are above 10 usd. I do not expect 100 usd as in the old good times. But 25-35 usd target prices are available in 2-3 years timeframe.