Snap stock analysis
Updated
This one is tricky.
1) There is a big engulfing candlestick, which suggests that there will be an up movement, you could take this long position and make your profit just on the above resistance ($17.13).
2) wait to see what happens when it reaches that resistance ($17.13) :
if it fails to break out, there is will be ahead and shoulder pattern suggesting a change in momentum, you can short it then.
3) Bollinger band are suggesting a move upward
1) There is a big engulfing candlestick, which suggests that there will be an up movement, you could take this long position and make your profit just on the above resistance ($17.13).
2) wait to see what happens when it reaches that resistance ($17.13) :
if it fails to break out, there is will be ahead and shoulder pattern suggesting a change in momentum, you can short it then.
3) Bollinger band are suggesting a move upward
Trade closed: target reached
I'm closing this since it reached $17.16 today what I had expected ($17.13)
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