GPRO price prediction next 20 days

Here are key points for GPRO price prediction over the next 20 days:

1. Current Price and Recent Trend: As of August 16, 2024, GPRO's closing price is $1.24. The stock has experienced a recent downward trend, with a 22.7% year-on-year revenue decline and a net loss of $47.82 million.

2. Short-term Price Forecast: The forecasted price for GPRO over the next 20 days is expected to rise by approximately 10.78% to $1.37. This suggests a potential for the stock to recover some of its recent losses.

3. Market Conditions and Forecasts: The household durables industry, including GPRO, is forecasted to return to annual growth in 2026. This indicates a positive long-term outlook for the company.

4. Technical Indicators: The 20-day moving average is $1.38, and the 50-day moving average is $1.57. The stock is currently trading below these averages, which could be seen as a bearish signal.

5. Support and Resistance Levels: The current support level for GPRO is at $1.14, and the resistance level is at $1.50. The stock will need to break through the resistance level to indicate a potential upward trend.

6. Upside and Downside Risks: GPRO faces risks such as a potential stronger fall rate if the lower trend floor at $1.14 is broken. However, institutional investors and hedge funds own a significant stake, indicating some confidence in the company's future.

In conclusion, while the short-term price forecast suggests a potential for GPRO to recover, investors should also consider the longer-term positive industry outlook. However, they should be aware of the stock's current bearish technical indicators and the potential for further downside risk if the support level is breached.