$SNAP part 2 - continuation and technical analysis:
Since the beginning of the year, Snap traded sideways between $48 and $70, while with the Q2 earnings release in July it held for 3 months between $70 and $80.
After the latest Q3 earnings release in October, it returned to $48 per share in a pullback of over 30% in a single month so far.
In recent days, the stock shows positive support signs as it is supported by the $47 support line.
Below this line and up to the next significant support in the $27 areas, there are relatively weak supports at $43 and $38.5.
The STOCHASTIC oscillator is exiting the oversold area, in addition to the MACD signaling a bullish divergence, which may indicate a trend change.
The stock will face resistance in the price range of $57.5 up to the bottom of the gap at $60.5.
Above them is another resistance area throughout the gap, whose chances of closing are high.
Nothing stated herein is a recommendation - personal opinion only. Anyone using this information does so at their own discretion and personal responsibility only.