Groupon Stock Forecast
Volatile ride for Groupon stock price on Tuesday moving between $9.73 and $11.15
(Updated on Apr 23, 2024)
The Groupon stock price gained 10.02% on the last trading day (Tuesday, 23rd Apr 2024), rising from $9.58 to $10.54. During the last trading day the stock fluctuated 14.65% from a day low at $9.73 to a day high of $11.15. The price has fallen in 7 of the last 10 days and is down by -6.31% for this period. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 588 thousand more shares were traded than the day before. In total, 2 million shares were bought and sold for approximately $19.46 million.
The stock lies in the lower of a very wide and falling trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $9.32 is broken, it will firstly indicate a stronger fall rate. Given the current short-term trend, the stock is expected to fall -27.18% during the next 3 months and, with a 90% probability hold a price between $6.79 and $11.65 at the end of this 3-month period.
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GRPN Signals & Forecast
A buy signal was issued from a pivot bottom point on Friday, April 19, 2024, and so far it has risen 10.83%. Further rise is indicated until a new top pivot has been found. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Volume is rising along with the price. This is considered to be a good technical signal. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Groupon stock holds a buy signal from the short-term Moving Average; at the same time, however, the long-term average holds a general sell signal. Since the longterm average is above the short-term average there is a general sell signal in the stock giving a more negative forecast for the stock. On further gains, the stock will meet resistance from the long-term Moving Average at $13.38. On a fall, the stock will find some support from the short-term average at $9.99. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sell signal and strengthen the general signal.
Support, Risk & Stop-loss for Groupon stock
Groupon finds support from accumulated volume at $10.37 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock may move much during the day (volatility) and with a large prediction interval from the Bollinger Band this stock is considered to be "high risk". During the last day, the stock moved $1.43 between high and low, or 14.65%. For the last week, the stock has had daily average volatility of 9.42%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (GRPN) For The Upcoming Trading Day Of Wednesday 24th
For the upcoming trading day on Wednesday, 24th we expect Groupon to open at $10.47, and during the day (based on 14 day Average True Range), to move between $9.61 and $11.47, which gives a possible trading interval of +/-$0.93 (+/-8.85%) up or down from last closing price. If Groupon takes out the full calculated possible swing range there will be an estimated 17.69% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $10.37 (1.61%) than the resistance at $11.48 (8.92%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Groupon stock A Buy?
Groupon holds several negative signals and we believe that it will still perform weakly in the next couple of days or weeks. We, therefore, hold a negative evaluation of this stock.
Current score: -2.073 Sell Candidate Unchanged
Predicted Opening Price for Groupon of Wednesday, April 24, 2024
Fair opening price April 24, 2024 | Current price |
---|---|
$10.47 ( 0.648%) | $10.54 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for GRPN
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 11.90 | 12.87 % | |
R2 | 11.35 | 7.71 % | ||
R1 | 11.02 | 4.52 % | ||
Current price: | 10.54 | |||
Support | S1 | 9.93 | -5.81 % | |
S2 | 9.59 | -9.00 % | ||
S3 | 9.05 | -14.17 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 12.59 | 19.45 % | |
R2 | 11.65 | 10.53 % | ||
R1 | 11.48 | 8.92 % | ||
Current price | 10.54 | |||
Support | S1 | 10.37 | -1.61% | |
S2 | 10.00 | -5.12% | ||
S3 | 9.77 | -7.31% |
FAQ
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