Wednesday, 6 March 2013

Highlights / Stock Picks of the Day - Highlights / Stock Picks of the Day

GPRO has been exhibiting clear cyclical trends over the past year and a half. In August 2011, GPRO's share price surged more than 5 fold after breaking out of a "Bollinger Squeeze". The sizable gains were short lived,
and the share price retreated soon after. A very similar pattern was repeated less than a year later (June 2012), where the boom and bust was near identical. Fast forward another 9 months to yesterday, we noticed that GPRO is beginning to show a very familiar pattern. The share price has already rallied from a low of 7.0 sen to 12.5 sen in the past month, and still the indicators supportive of further gains to come. The
signs are there, but the big question remains - Could this be the prelude for a multiple fold?

Source: Kenanga

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