Do you trade penny stocks? (< $5.00). This GRPN stock has not been in business too long with a high of $28 and hitting multiple lows of now $3.40.
Strange that last week, GRPN made a complete up and down cycle from $3.38 to $3.66= .28 cents. To make real money with this kind of stock, you would have to intra-day, day trade and buy a large amounts of PUT options and/or shares of stock. Example: with a 1000 shares or 10 PUT contracts, you could risk a little and make around $300 (if you did an straddle, strangle or covered call). Fundamentals are bad, but technical's on chart appears bullish, at this time
Some technical's:
This is valid for Monday or 5/15/17
RSI is below 50, but going up now
Per chart: On chart bearish Elliot impulse wave (12345) is over
$3.50 is 1st Resistance on chart
* Big question is YOU need to pick stock selections by a stock screener and with stocks under $5.00, really need to dig deep and answer those: what, why, where, how and who questions, before trading or investing in them. Just make sure that you make a plan and trade your plan. Cut your losses quickly.
Strange that last week, GRPN made a complete up and down cycle from $3.38 to $3.66= .28 cents. To make real money with this kind of stock, you would have to intra-day, day trade and buy a large amounts of PUT options and/or shares of stock. Example: with a 1000 shares or 10 PUT contracts, you could risk a little and make around $300 (if you did an straddle, strangle or covered call). Fundamentals are bad, but technical's on chart appears bullish, at this time
Some technical's:
This is valid for Monday or 5/15/17
RSI is below 50, but going up now
Per chart: On chart bearish Elliot impulse wave (12345) is over
$3.50 is 1st Resistance on chart
* Big question is YOU need to pick stock selections by a stock screener and with stocks under $5.00, really need to dig deep and answer those: what, why, where, how and who questions, before trading or investing in them. Just make sure that you make a plan and trade your plan. Cut your losses quickly.