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GRPN Emerging Cup-and-Handle Bottom?


Groupon Inc. (GRPN) exhibits a textbook intermediate-term base formation that has unfolded during the past 12-14 months.

That said, the rounded formation is showing signs of technical stress that leads me to suspect GRPN will stall in the 13.00/30 area or below, and embark on a correction that will turn out to be the handle after completion of its saucer bottom.

If that proves to the reasonably accurate, then GRPN will be vulnerable to a correction into the 11.00-10.00 area, prior to my expectation of the emergence of a new upleg that will project towards 16.00.

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