Snap Inc.Long
SNAP: should we snap it up?
Updated
The outlook of SNAP seems bullish in the coming weeks if the indicated support line holds. The recent retracement looks corrective and near completion. Potential targets are highlighted on the long side but please note the bearish alternatives and potential reversal/correction areas. Good Luck and have fun trading!
Please note: the bar pattern to the right side of the current price is only imaginary and gives no guarantee on future PA behavior.
Please note: the bar pattern to the right side of the current price is only imaginary and gives no guarantee on future PA behavior.
Note
The market moved nicely upwards, while a (small) pullback may follow in the coming days, it could also be a nice opportunity to join the trend as long as the support line holds. If one took the trade, today PA provides a good opportunity to raise SL to the low of the bar before the gap that is 52.6 which should (ideally) hold.Note
The current PA suggests a consolidation phase. As indicated earlier, any pullback is a good chance to join the trend keeping critical support area at 57.4 to 55.4
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