Groupon Inc(NASDAQ:GRPN) has been showing very volatile trading sessions since last week and the last week was the best week for this year with a gain of about 23%. This week, the stock started on a weak note and retreated about 11% from Friday’s closing on concern that marketing costs are rising amid waning consumer interest in online coupons. However, today the stock went up about 14% and closed at one month high. Moreover, the stock easily crossed last week’s high. So, has GRPN found the bottom? I gues not yet, the stock needs to break above its 50-day moving average of $5.85, which is still 10% away from its current market price. So watch out for this level before taking any position. Stay tune and get more updates on technical analysis in your inbox instantly Here
Broadcom Corporation(NASDAQ:BRCM) has been showing solid up move very since it has broken above 200-Day moving average of $34.11 in early August. The stock has been showing gradual up move and is on the way towards its 52-week high of $39.66. So the next resistance could be $39.66, once it break above it, it may reach to $42-$43 area. Get Up to date technical info here
Sprint Nextel Corporation(NYSE:S) had a solid breakout today and the stock soared over 7% to close at $5.56. The stock made multi month high of $5.71 earlier in the session. By looking at the stock’s chart, the stock has been showing consistent up move since late August after breaking above its 50-day and 200-day moving averages. Moreover, in the past one month, the stock has created Higher Tops and Higher Bottoms – which is a very strong sign. At current price, the stock may move further higher, but buying on correction could be a nice idea. Stay tune and get more updates on technical analysis in your inbox instantly Here
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