There is an Interesting connundrum at the heart of the share lock up situation, one which may tilt the scale one way or the other. If we see a strong breach of the three levels below, we will surely see price plummet to IPO price levels, which at this point is still possible, but not probable.
In the chart we can see strong levels of support and resistance and potential scenarios that may unfold soon, post lock up expiry. My bias is bullish for the time being, considering we are back at an accumulation level, where volume was big and price seemed fair for the longest time period.
Since there is lower risk going long in my view, I will wait for bullish confirmation.
Let's make a poll: are you bullish or bearish on GPRO?
In the chart we can see strong levels of support and resistance and potential scenarios that may unfold soon, post lock up expiry. My bias is bullish for the time being, considering we are back at an accumulation level, where volume was big and price seemed fair for the longest time period.
Since there is lower risk going long in my view, I will wait for bullish confirmation.
Let's make a poll: are you bullish or bearish on GPRO?
