SNAP - Short term bullish
Snap had an ugly distribution pattern and an Island Top at the 70-80 price few weeks back and its been selling ever since, with last 3 weeks the selling had accelerated in momentum reaching the importing level of 28-30, closing a long due gap.
That level should provide enough support for a bounce back at 40 level, towards the 50 Daily EMA. I believe SNAP price is so oversold short-term, that bulls will be looking at ER for an excuse to send this up for the next few weeks.
First important level is at 35 next is at 40
That level should provide enough support for a bounce back at 40 level, towards the 50 Daily EMA. I believe SNAP price is so oversold short-term, that bulls will be looking at ER for an excuse to send this up for the next few weeks.
First important level is at 35 next is at 40
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.