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GoPro (GPRO) falling from a double top, again

GoPro Inc. (GPRO) has been bullish since May, rallying from 8,63 up to just a 16.24 before stalling. As we can see in the 4H chart, price action essentially formed a double top before falling.

GPRO 4H Chart 9/6

(click to enlarge)

Neutral-bullish 2016:
- Let's take a step back and note that price action was bearish heading into 2016. 
- Then in 2016, price essentially turned sideways.
- The rally since May pushed price above the 200-, 100-, and 50-period simple moving averages (SMAs). The 4H RSI has been holding above 40 and pushing above 70. Basically, we see some bullish bias and momentum since May. 

Double top:
- We should note that this is new bullish bias and momentum. We don't really have an established bull trend yet.
- Furthermore, note that price action has completed a double top, nearly identical to the one in mid-April.
- Price slid sharply following the previous double top, so we should at least expect some short-term consolidation/correction from the current double top.
- I think we should anticipate at least a slide to 13.00, where price will test a psychological pivot as well as a rising trendline. 
Bearish scenario:
- If price can't hold above 12.00, I would neutralize the bullish bias and even consider a bearish bias with the year's low around 9.00 in sight .
Bullish Scenario: 
- GPRO at 13.00 might attract some buyers. If there is enough confidence to keep GPRO above 13.00, I would have more faith in the current bullish development.
- Golding above 13.00 would put the 16.00 handle back in sight. And if the trend from May continues, the 18.00 handle, and 20.00, a common resistance area in Dec. 2015, would be the next bullish targets.