SNAP just beat on earnings and due to the high short interest this should be a huge short squeeze similar to what we have seen with GE recently. As with GE there is bullish RSI divergence on the daily chart.
Add to this that the US economy is on fire in large part thanks to the PPT and let's let this winner run. Will initially take some profit at $10.30 as there will be a lot of resistance at $10.50.
Could be wrong of course, I usually am!
Add to this that the US economy is on fire in large part thanks to the PPT and let's let this winner run. Will initially take some profit at $10.30 as there will be a lot of resistance at $10.50.
Could be wrong of course, I usually am!
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.