Thread by @malteseinvest

Analysis: #NASDAQ $GRPN

Case 311 #

DISCLAIMER: The analysis is strictly for educational purposes and should not be construed as an invitation to trade.

#GRPN 1/4

Chart 1
Weekly Chart: The break below long term trendline #support at 1.60 has seen price trade to a new all time low of 0.48. A minimum close above the 2013 #trendline resistance at 2.73 is required to tackle the strong 6 year pivot .....

GRPN 2/4

..... close at 5.83 and only a break/close above here will relieve downside pressure. Much higher up the formidable 2013 #pivot at 12.64 above the #Fib. 0.382 at 12.19 and 2012 cluster top.

GRPN 3/4

Chart 2
Daily Chart: An unfilled gap exists above the broken trendline turned #resistance - current slope is 1.56.

The #Strategy is printed on the image.

$GRPN 4/4