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Groupon, Inc.

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GRPN trade ideas

GROUPON : HEADING TOWARDS POSSIBLE STRONG UPWARD THRUSTPrice has effectively moved from the yellow channel into the green channel which abruptly halted its advance into the blue channel. An overlay using the Action and Reaction method, gives one a preview ahead of time with regards to the potential timeframe and area for possible violent reaction to the price. As it heads sideways towards the confluence point as indicated by the text in red box with caveat that it remains within the green channel, we can expect onslaught of buying orders to push the price up towards the Centre Line. If it breaks the green channel into the yellow channel, it will face with onslaught of many sell orders pushing down to the lower trendline of the yellow channel.
NASDAQ:GRPNLong
by jefftan
At $5 Over $9Really like the looks of Groupon (Online Coupon) Inc., GRPN chart setup. We have a classic inverted head and shoulders with volume and indicators that confirm IH&S pattern. The chart also has two necklines, horizontal and descending. Currently GRPN is stuck in a bearish channel, which broke out a few weeks back to create the right shoulder. This breakout was met with large volume, very positive and suggest a floor is in GRPN. If the bottom channel is met again or temporarily breached, that would be a good time to add shares or long call options. Game plan here is to watch price action. If GRPN closes above the horizontal neckline expect higher price and first target to be met much earlier. If GRPN hits 5.00 or falls below, consider it a gift. Plan of action is to buy May 6.00 calls if prices reach 5.00 or below before end of the month. This is a simple long call. If prices breach and close above 5.50 then I will consider other options. I also added a few clones, fib fan and Fibonacci extensions for possible resistances in the near term and future. Horizontal neckline from top of inverted head breakout measures 2.89, and extends to 8.40 if prices closes above 5.49 neckline resistance later this week. Descending neckline upper channel resistance from top of inverted head breakout measures 5.05, and extends to 10.80 when channel resistance is broken. May 13th are GRPN's earnings. Probably looking for another event catalyst that's going to bring GRPN to higher prices. Perhaps a partenership with Facebook? Who knows, but the chart suggest wait for a pullback and buy on the dip. **Another caveat is the Fed meeting this week. If the market tumbles all long position bets are off.
NASDAQ:GRPNLong
by QuantitativeExhaustion
5