Looked at SNAP
today after not checking it really for a few months, and seen the huge uptrend
, just ridiculous, lol. I did not see that big move coming. Looking at it now, it seems like its possibly getting rejected off the median pivot
line, at 16.88
, with re-test rejection
, I would say there is strong chance of downtrend starting
. Another thing I seen is the CFO
sold $500k worth of snap stock the other day. Maybe he see's it coming too lol. If I am right on this analysis we should have a downtrend back to 12.10
and possibly lower. But, if the bullish
momentum does return and pushes us back above 16.88
, I would look for a break and re-test of that level
as it would signal the continuation of the uptrend
and I would expect us to push back up to 21.22
, possibly even higher. Good luck traders!
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