andrew.berg
Long

Groupon woke up after long sleep in rangePublish IdeaRead before

NASDAQ:GRPN   GROUPON INC
Groupon             surprised Wall Street by delievering a bottom line beat. Goupon is improving its distribution and launching mobile apps to attract more users to its platform. Company is focusing on steps to improve the business further. This is debt-free company with $855 million in cash - it has resources to spend on growth.

Four-months resistance at $7.25 finally was broken on strong catalyst - better than expected Q3 earnings. Also, it was nice to see how previous resistance became support as price for the last two days confirmed this thesis. Bullish , ignited bars with close near highs give me more confidence. Now, it looks a bit extended from short-term 8/21 EMAs, so it will be nice to see consolidation above $7.88-$8.00. It will keep active traders attention. If not, we have another level from where it started recent move up at $7.53 and finally zone of support around $7.25. The higher it will hold the higher is probability for continuation move. Target is $8.71-$9.00 from where it started its move down after huge gap down on earnings.

Overall market remains strong hovering near historical highs.
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