$GRPN . Ichimoku barely formed and it is a bear.


The Ichimoku indicator is not even fully formed on Groupon ($GRPN) and already we can see that the bearish indicators are aligned:

1. Tenkan sen cuts Kijun sen towards the down side (sharp cut)

2. Price is trading below the leading kumo

3. The leading kumo seems to suggest that it is about to twist; further confirming that the trend is towards the bearish side.

Target price $15.

By iam802

Trend trading with Ichimoku