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Snap Inc (SNAP) “On a long-term technical basis, the stock (SNAP) is trading above its 200-day moving average which generally implies it is in a positive trend.
The stock has support at 18.46 and 16.42. If the stock breaks down through support at 18.46 then it will probably continue lower to 16.42. The stock has resistance at 19.76. The 200-day moving average is at 15.36. This will also act as support. However, the stock has broken out of its long-term downtrend according to the fibonacci fan, which is significant. If the stock can form new support above 18.46 look for a rally to previous highs. The stock is slightly overbought according to the Stochastic Indicator (67.85).”
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