TradeWithTyler

Just Ridiculous, lol

NYSE:SNAP   SNAP INC
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! Make sure to leave a "LIKE" and follow for more chart analysis!
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