Is Groupon another recovery play?
已更新
Groupon took a big hit in march 2020 when covid became pandemic. Ever since then it has developed a well formed upward channel to 30-40 dollar price range. It has always been in my radar for a recovery play but however I never press the button to open a position until recently it started edged up from $35-$38 just before its earning release. I was hoping the recent turmoil could bring it back to $35 range but it just never hit my buy order.
Of course what happened after is well known by now,
GRPN earning well exceeded everyone's expectation and its price shot way up to $43.
While I continue to be bullish about this stock but I always try to control my risk/reward ratio to 1:1.5 like many of my other recommendations. So I would hope Groupon's stock price could consolidate back to $38, which I have already put a buy order there to open a position with $35 as my cut loss... with an upside price target at the mid-way of its trading range prior to the covid drop at $53 dollar....although It may never come back to $38 anymore.
If the recent bond yield fiasco cool down back to <1.2% I would be keen to raise my entry point a bit up to 40....At the time of this writing, I have no position in Groupon.
If you like my idea, you could show your support by buying me a coffee here
Of course what happened after is well known by now,
GRPN earning well exceeded everyone's expectation and its price shot way up to $43.While I continue to be bullish about this stock but I always try to control my risk/reward ratio to 1:1.5 like many of my other recommendations. So I would hope Groupon's stock price could consolidate back to $38, which I have already put a buy order there to open a position with $35 as my cut loss... with an upside price target at the mid-way of its trading range prior to the covid drop at $53 dollar....although It may never come back to $38 anymore.
If the recent bond yield fiasco cool down back to <1.2% I would be keen to raise my entry point a bit up to 40....At the time of this writing, I have no position in Groupon.
If you like my idea, you could show your support by buying me a coffee here
註釋
Groupon shot over $50 in the next trading day, the nice setup did play well but unfortunately i couldn harvest on this one.
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