Snap: More pain before relief?!!Snap
Short Term - We look to Buy at 13.20 (stop at 10.72)
This stock has recently been in the news headlines. The CEO reported the company will likely miss its own revenue and earnings targets. Broken out of the triangle formation to the downside. The measured move target is 13.00. We expect further downside to the measured move target zone. We therefore, prefer to fade into the dip at that zone with a tight stop in anticipation of a move back higher.
Our profit targets will be 21.98 and 24.00
Resistance: 18.00 / 22.00 / 30.00
Support: 13.00 / 10.00 / 5.00
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