AHiray

SNAP Revisited

Long
NYSE:SNAP   SNAP INC
This post is focused on taking a look at the rollercoaster SNAP had this week.

My previous post on SNAP had predicted an upcoming uptrend crossing past the previously set resistance line (represented by the purple line).

On Tuesday May 26 SNAP fell from 17.70 all the way to 16.50 (A roughly 6.5% drop). SNAP fell all the way and rebounded just as it touched the line of support.

This 4% drop was followed by a 15% increase over the next three days all the way to 19.00. Those who were lucky to buy the dip ended this week very well.

SNAP seems to have a very strong run going. I do not foresee SNAP slowing anytime soon.

Some predictions have SNAP rising to $40 while conservative estimates say between $25-$30.

Please let me know down in the comments section what you personally think. I love feedback and hosting discussions.

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