$SNAP Weekly buyers need to step in here...I think they will
Snap recently loss the 50EMA on the weekly but is trading at two important support points - Upward trend line and volume shelf support.
Watch for possible more downside to $50 zone, were I would want to see buyers defend here and push back to $60 zone target.
I'm in DEC $60 calls down -20% will exit the position with a close below $50 this week. I like the decrease in volume as sellers seem to be exhausted at this point.
Watch for possible more downside to $50 zone, were I would want to see buyers defend here and push back to $60 zone target.
I'm in DEC $60 calls down -20% will exit the position with a close below $50 this week. I like the decrease in volume as sellers seem to be exhausted at this point.