GRPN Vulnerable Ahead of Earnings

Heading into earnings next week, let’s notice that Groupon, Inc. (GRPN) has reversed to the downside from an April double-top at 6.66.

It also has pressed across its multi-month channel towards a test of the lower-channel support line, now at 5.37, and perhaps a test of its “turning” 200-day MA, now at 5.19.

My pattern work is warning me that GPRN is vulnerable to downside continuation towards a revisit on the Feb 28 low at 4.24.

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