GRPN, THE LITTLE COUPON APP THAT COULD (EARNINGS CHART)

Can it keep going? Technically, yes. I see numbers up to $40.
However, I'm posting this because I see this idea as far more likely to occur is some form.
It looks like a potential top is about to occur.
At these levels, with momentum, a drop could take price as low as $4. If not lower, down to $2.
It's hard to be bullish on this stock with a chart like this.
In other words, I'm saying, I don't know if there is more upside, and if there is, I'm okay with missing it because I'd rather not be wrong and ultimately lose money on the downside.
Mostly a question of risk vs reward.
I would ultimately be bearish overall.
I think the pink zone might see a top and I think we could see trends break all the way down to the blue zone.
Current pattern is highlighted.

تعليق:

At the topside of the current pattern, potential to see a small retracement to decide next move. Breakout of this pattern to the topside can cause higher price action.

تعليق:

Anyone able to time the sell?
You'll want a new chart but the numbers are still pretty relevant.