Last time we looked at GoPro (GPRO), we saw that it was trading sideways after a slide in Q4 of 2016. GPRO slid to a common, critical support around 8.60. We noted that the structure of this consolidation suggested some bullish bias. Indeed, the market anticipated correctly because this week, price broke above a consolidation range on the back of raised growth estimates:GoPro stock soars on report of ‘better-than-feared’ holiday salesGoPro Inc. might want to thank Best Buy Co. Inc. for stronger-than-expected holiday sales.Shares of GoPro GPRO, +7.77% soared as much as 11% Tuesday after Pacific Crest raised its quarterly estimates, citing data that may indicate sales were stronger than expected during the holidays after retailers swiftly shifted their promotions in response to GoPro’s Karma drone delay.Pointing to “better than feared” sell-through, a measure of sales against how much product was shipped to the stores, Pacific Crest analyst Brad Erickson raised his fiscal fourth-quarter unit estimates on GoPro by more than 10%, to 2.1 million units from 1.9 million. He also raised his estimate on average selling prices, reflecting a larger volume of sales of the higher-priced Hero5 and the discontinuation of older camera models. (Full Article on MarketWatch.com)GPRO 1/25 4H Chart(click to enlarge)Breakout;Targets:- The breakout now makes the 9.50-9.60 area a key level to watch out for support.- There might be some resistance here around 10.50, but the bullish target can be higher.- In the medium-term, we can look fro a rally towards 12.00-12.50 and then the 14.00-14.30 area. - An aggressive outlook would be the 16.00-16.25 pivot area and then the 17.65 resistance of the 2016 sideways range. - If price slides back below 9.50 however, we might have to shelve the bullish outlook for more consolidation action, and possible another test of the 8.60 low.