This is an hourly chart of SNAP backtested using my Script: "Relative Strategy"
From backtested trades, we got stopped out two times in a row in this 70-75 price range. Still, this proves to be a significant price area.
The win-rate with the default settings is approx. 35%. Odds of winning next time should be in our favor (i.e. followed by a breakout).
It is assumed that the up-gap formed on July 22 (as a result of positive ) is a breakaway gap. If it fills, then it will be a matter of risks associated with the overall market (not SNAP as a company individually).
We will put a stop loss near the orange support line.
Other information (about the right side ): This setup is just for my reference to see price actions from a higher timeframe. At the bottom, I pasted some target prices. We note that the current price is below average target.