Stock Market Viewpoint

Stock Market Viewpoint
Reading the Tea Leaves...

Wednesday, December 30, 2015

GPRO To Be Let Out of the Doghouse Soon?

GPRO, the high flying IPO from last year, has been a real disappointment since its initial run.  

click on image to enlarge

It managed to hold its IPO price until last September but then traders sent it deep into the doghouse over the past few months.  The past few weeks it has been trying to stabilize and it's pressing against its downtrend line now.  If the broad market rolls, there will likely be a number of traders that feel like it has been in the doghouse long enough and it's time to buy back in.

Trade well my friends


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