Old Analysis (1/4/2015) - GoPro - An U.S. Stock

The following daily chart of Gopro shows that it may have formed a medium term bottom at 37 in March. 

There appears to be a five wave down move from the top made at around 98 in October 2014. A five wave move can be either the first or fifth wave of an impulse or an A or C wave of a corrective move. Looking at the structure from June (IPO) to October, I am leaning towards this down move as being either 1 or A. But in any case if the 5 wave down move has completed at 37 then the down move from 98 to 37 is likely to be retraced.

RSI has has also broken out from the downward sloping trend line.

The hourly chart below shows the up move from 37 in more detail. 

 

Looks like 1st move to the upside is about to complete. Following this there may be a correction to the downside which will be a retracement of this upmove. This correction may be a very good opportunity to go long in GoPro for medium term.  

The likely targets are 

38.2% retracement - 60
50% retracement - 67
61.8% retracement - 75 

Conclusion

It appears that though GoPro may be in a longer term down trend, it may formed a bottom at 37 for medium term. After moving lower in short term, there is a probability it may move to  60/67/75.