Just want to point this out, to show you the importance of placing a stop loss on your trade.
As shown on the chart, Groupon had a false breakout (yellow circle) what, after the retest of the pattern, led to a 15% drop in one day.
This can happen at any chart and is very painful without a stop loss.
This said, I'm getting the feeling that Groupon is now trying to climb back up, and since the FED keeps printing, it might even do so, and possibly even fill that gap.
Who knows, it's a risky stock in these times, so if you trade this, be careful, place your stop loss :-)
I would wait to see what the new week will bring on this chart, to get a feel of its strength.
I will do an update on moonday, I mean monday ;-)
"These are my thoughts on Groupon. They are meant to give you an idea, not trading advice."
As shown on the chart, Groupon had a false breakout (yellow circle) what, after the retest of the pattern, led to a 15% drop in one day.
This can happen at any chart and is very painful without a stop loss.
This said, I'm getting the feeling that Groupon is now trying to climb back up, and since the FED keeps printing, it might even do so, and possibly even fill that gap.
Who knows, it's a risky stock in these times, so if you trade this, be careful, place your stop loss :-)
I would wait to see what the new week will bring on this chart, to get a feel of its strength.
I will do an update on moonday, I mean monday ;-)
"These are my thoughts on Groupon. They are meant to give you an idea, not trading advice."
These are my thoughts only, meant to give you an idea, not trading advice.
Please be careful, as the market never gives you certainties, only probabilities!
ALWAYS REMEMBER THIS WHEN YOU TRADE
Please be careful, as the market never gives you certainties, only probabilities!
ALWAYS REMEMBER THIS WHEN YOU TRADE
First target should be close to 35$.