Potential support levels for SNAP after poor earnings
At one point last night, SNAP shares were trading down 16% near $12.50 suggesting we could see a plunge this morning. A break of $14.40 would snap an uptrend support line and cause the ascending triangle to fail. The most significant test today could a retest of the August low near $12.00. Support holding there could form a double bottom, but a failure would be a major breach and signal the start of a new downleg with next potential support near the $10.00.
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