Groupon Wave Analysis – 23 December, 2019

• Groupon broke long-term support level 2.32
• Likely to fall to 2.00

Groupon recently broke the powerful long-term support level 2.32 (which has been reversing the price from the start of 2016, as can be seen from the weekly Groupon chart below).

The breakout of this support level 2.32 continues the active short-term impulse wave 3 – which belongs to the medium-term impulse wave (3) from the start of January.

Groupon is expected to fall further toward the next round support level 2.00 (target for the completion of the active impulse wave (iii)).