Hi Jld. Not in my view. I'm more of a technical trader... For 4 out of 5 weeks, the 'weekly low' for GRPN was right around the 5.83 area... And the 1 week it wasn't, the 'weekly close' was right at that price as well... That's no coincidence in my eyes... We were all getting a 'hint' that this was likely the bottom for the time being.
And as you can see by the 'weekly' chart below, there are indicators 'switching' as well now.
Today is also the 1st time GRPN has broken the 50DMA (on the daily chart) in a few months, so that plays a part as well.
I believe GRPN is now entering a 'weekly' trading channel between the 5.80's and the 7.80's, so I will be looking for an upwards movement toward the 7.80 range.
I'd like to see at least the 7.50-7.70 range before I exit my options... We shall see.
Have a great one Jld and best of luck to us, NYCrew
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