GROUPN GRPN price action
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Hello All, here’s my opinion regarding which direction the share price of Groupon (GRPN) is likely to go.
GRPN appears to be in somewhat of a sideways channel.
Within the past few weeks, the daily chart shows that the price of GRPN has “touched” the same top and bottom prices on multiple occasions without any significant breakthrough in either direction.
Unless there is a major increase in volume to the downside, I believe that there is a greater probability that GRPN will see higher stock prices based on the likeliness of a continuation move from the lows established in November and December of 2018.
For what it’s worth, GRPN shows some good fundamentals as well including the expectation of an estimated earnings beat (which we will soon find out).
That’s my 2 cents. Any feedback is welcome. Please keep it productive.
Happy trading.
GRPN appears to be in somewhat of a sideways channel.
Within the past few weeks, the daily chart shows that the price of GRPN has “touched” the same top and bottom prices on multiple occasions without any significant breakthrough in either direction.
Unless there is a major increase in volume to the downside, I believe that there is a greater probability that GRPN will see higher stock prices based on the likeliness of a continuation move from the lows established in November and December of 2018.
For what it’s worth, GRPN shows some good fundamentals as well including the expectation of an estimated earnings beat (which we will soon find out).
That’s my 2 cents. Any feedback is welcome. Please keep it productive.
Happy trading.
Komen
So, GRPN came up short with their earnings and the stock went tumbling from $4.00 to $3.32 within one trading day (including after-hours trading and part of the next trading day).GRPN is now back up around $3.60 which is an area of prior support which may be acting as resistance now that the price is trying to penetrate that $3.60 threshold.
Volume has declined, but that includes Bear Volume as well.
On the longer time frames (daily and weekly) GRPN is still well above the November and December “double bottom”.
The current price of GRPN may be considered to be part of the “correction” from that big move up since December.
I am still long GRPN because the decline was not a cause of major Bear Volume (it was mainly caused by after-market sell-off= low liquidity and greater volatility), and it is still in an uptrend based off of the “double bottom” formed in November and December of 2018.
Let me know what you think, keep it productive, and thumbs up if you like it.
Thanks!
Komen
GRPN update...In my opinion, the price action for GRPN is no longer acting according to the criteria that I have set for stocks that are likely to go up in price. That is not to say that it will not happen. All I mean by this is that it does not fit my criteria any longer.
The stock is also less liquid than I would prefer.
I no longer have a position in GRPN. I will continue to monitor GRPN, but for now it is time for me to go elsewhere.
Any thoughts are greatly appreciated.
Thank you.
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