Joel Elconin is the co-host of Benzinga's #PreMarket Prep, a daily trading idea radio show.
GoPro Inc (NASDAQ: GPRO) shares were trading lower by $1 at $47.39 in Monday's session. The maker of high-definition action cameras has rebounded from its morning low of $42.75.
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It is one of the few issues that did not stray that far from its opening price for the session. After a sharply lower open ($43.30 vs. Friday's close of $48.39), it continued lower until it found support at $42.75 and rebounded all the way to $51.32.
The current low coincides with its April 14 low ($42.87) that was put in place on its way to its recent high for the move that was made only 10 trading sessions ago at $65.49.
Today's price action is taking place on much higher than average volume. So far, 11.2 million shares have changed hands compared to its 20-day average of 6.9 million shares approaching the close.
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New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.