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Really 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.
Excellent Call here!
Thanks for the accurate support/resistance lines
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Good ONe!
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Hit the upper channel resistance. Not sure if I'll get my 5 or lower before 9.
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Pitchfork extended with possible outcome
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