Description
⋅ Snapchat has probably peaked in terms of its popularity.
Yes- a lot of us use the app. Including myself. But what do they really do that is hard to replicate?
All of that aside, technical analysis says this stock is overpriced.
Bearish double top. Massive gap down below that has already broken. I originally meant to share this last week.
It has also lost both major moving averages at 100 and 200 day MA's. This should be a fun short to play right now.
I have been in this play and expect it to move to around $27 or lower.