Market Snapshots

Groupon Wave Analysis – 11 March, 2020

Groupon Wave Analysis – 11 March, 2020
  • Groupon falling inside impulse waves 3 and (3)
  • Likely to fall to 0.500

Groupon has been falling strongly in the last few trading sessions inside the impulse waves 3 and (3) – which previously broke through the support area lying between the support levels 2.10 (which stopped the sharp downtrend at the start of 2016) and 2.50.

The active impulse waves 3 and (3) belong to the long-term downward impulse sequence ③ from the end of 2017.

Groupon is likely to fall further toward the next support level 0.500 (target for the completion of the impulse wave (3), lying at the intersection of the two different lengthy down channels from 2015 and 2018).

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