Groupon, Inc. : Back on its bullish trend
Entry price | Target | Stop-loss | Potential |
---|
US$4.21 |
US$0 |
US$3.89 |
-100% |
---|
The USD 3.99 support area, currently tested, might facilitate a technical rebound. The company’s fundamentals could validate this scenario.
According to Surperformance© ratings, the company constitutes an opportunity for a trading strategy. Indeed, it usually posts better-than-expected financial statements and the enterprise valuation conciliates with its visibility.
The security follows a downward trend in the short term, under the USD 4.65 resistance area.
The trend is bearish also in the mid-term, under USD 4.65. However, the selling pressure could soon run out of steam. Indeed, whereas the stock shows an oversold condition, the USD 4 support area currently tested might help for a technical rebound in the next trading sessions.
Therefore, the proximity of the USD 3.99 support is an opportunity to go long on Groupon. The first goal is a return in the USD 4.65 resistance area, that is a potential of 10.5%. In fact, the security has to cross this area in order to re-establish a bullish trend in the mid-term. A stop loss order can be placed under the support currently tested.
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