Groupon (GRPN) is a local e-commerce marketplace that connects merchants to consumers by offering goods and services at a discount. This stock is trading up 7.9% at $12.50 in recent trading.
Today's Volume: 4.4 millionAverage Volume: 3.2 million Volume % Change: 108% From a technical perspective, GRPN is ripping significantly higher here on above average volume. This move is quickly pushing GRPN within range of triggering a near-term breakout trade. That trade will hit once GRPN takes out some near-term overhead resistance at just above $13, and then its 50-day moving average of $13.71 with high-volume. Traders should look for long-biased trades if GRPN can trigger that move on volume that's near or above 3,191,230 shares. If we get that action soon, then GRPN will have a great chance of challenging and possibly taking out some major overhead resistance at $14.93. On the flipside, I would look for short-biased trades if GRPN fails to sustain a move or close above its 50-day at $13.71. I also featured Groupon, one of Maverick Capital's holdings, last week in " 8 Stocks Set to Soar off Facebook's IPO."
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