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Groupon(GRPN - Get Report) is a local e-commerce marketplace that connects merchants to consumers by offering goods and services at a discount. This stock is trading up 12.4% at $11.32 in recent trading.
Today's Volume: 8 million
Average Volume: 5.1 million
Volume % Change: 154% Shares of GRPN are ripping higher today after Morgan Stanley raised its rating on the stock to overweight from equalweight, with an $18 price target, citing the company's revenue growth acceleration in North America and due to diminished concerns about its competition.
>>7 Value Stocks to Buy in Facebook's Wake From a technical perspective, GRPN is skyrocketing 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 its 50-day
moving average of $11.35 with high
moving averagevolume. At last check, GRPN has hit an intraday high of $11.35.
Traders should now look for long-biased trades if GRPN can sustain a move or close above $11.35 with volume that's near or above 5,053,210 shares. If we get that action soon, then GRPN should re-test its next significant overhead resistance levels at $12.43 to just above $13.
Groupon shows up on a recent list of
2 Recent IPOs to Sell.