Groupon Wave Analysis – 10 January, 2020

• Groupon reversed from long-term support area
• Likely to rise to 2.60

Groupon recently reversed up sharply from the long-term support area lying between the strong support level 2.12 (which stopped the sharp downtrend at the start of 2016) and the lower weekly Bollinger Band.

The upward reversal from this support area stopped the previous short-term impulse wave (iii).

Groupon is likely to rise further toward the next resistance level 2.60 (former support from October).