Clearly heading straight into support for the first time. Likely to bounce. First test best test.
See notes on chart. MACD just crossed north, Stoch RSI just exited oversold, first prev support (could've turned to resistance) broken easily, next possibly resistance around $4.57 Confluence between prev support, .238 fib line & entry point of Ichi cloud.
Went long on $GRPN 's dump today. RSI dropped below 35 for the first time since June just before a nice run up. Largest buy volume since fomo hit back at that same time during the increase. Tested and found support on a previous level (green arrows). Expecting to see a double bottom tomorrow (Thursday), after some fomo buy up occurs, before continuing north.
After the breakout on long term downward trendline Groupon is in uptrend. More upside expected.
The stock is breaking and is at a tempting for going long. Trade with care at lower time frames and protect the trade with stop loss.
FUNDAMENTAL: Today, Groupon’s business is growing like gangbusters. Groupon is truly a global enterprise. It has well beyond 10,000 global employees, operates in over 1,000 cities, and reaches more than 53 million customers. (goo.gl) And this reach and rate of expansion would not have been possible without Groupon’s commitment to delivering a seamless user...