Yesterday, Groupon (NASDAQ:GRPN) flashed a new red monthly Trade Triangle. I believe this is a significant event for this stock, as it has also broken a long-term nine month trend line and completed a major head and shoulders top.
1.) Green Monthly Trade Triangle at $5.50 on 1/14/13
2.) 9 month long-term trend line
3.) Head and shoulders top
4.) Head and shoulders neckline
5.) Target zone below $6.00
6.) Red Monthly Trade Triangle at $8.60 on 12/02/13
7.) Resistance at the 50 Line on the RSI Indicator Continue reading "Remember Groupon?"