SNAP CHAT POTENTIAL REJECTION AT 14.50
SNAP, INC has been on a steady decline since it hit the market. In a period where the tech sector has been performing well despite recent market shocks, SNAP has not been rising with it's tech cousins. The company has also had some trouble from a recent redesign which upset users as well as some other internal issues.
We are seeing a rise from the $10.00 handle since Citron Research issued a rare buy recommendation last week for SNAP, INC indicating that the SNAP,INC is oversold, undervalued, and that the recent problems they have been having are priced-in. They expect a rise to $17.00 before the bullishness ends.
Personally, I don't see it. They could be making temporary recovery from their recent slide, but I see the short term bullishness ending around 14.50 when we hit the Kumo Cloud resistance. We also have a fair amount of short term resistance around the 16.40 area which we would need to break before we see 17.00.
We are seeing a rise from the $10.00 handle since Citron Research issued a rare buy recommendation last week for SNAP, INC indicating that the SNAP,INC is oversold, undervalued, and that the recent problems they have been having are priced-in. They expect a rise to $17.00 before the bullishness ends.
Personally, I don't see it. They could be making temporary recovery from their recent slide, but I see the short term bullishness ending around 14.50 when we hit the Kumo Cloud resistance. We also have a fair amount of short term resistance around the 16.40 area which we would need to break before we see 17.00.
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Learn to trade like a hedge fund pro. Send me a message if you have any questions.
Pernyataan Penyangkalan
Informasi dan publikasi tidak dimaksudkan untuk menjadi, dan bukan merupakan saran keuangan, investasi, perdagangan, atau rekomendasi lainnya yang diberikan atau didukung oleh TradingView. Baca selengkapnya di Persyaratan Penggunaan.