Snap Inc (SNAP) “On a long-term technical basis, the stock (SNAP) is trading above its 200-day moving average which implies it is in a positive trend. However, the stock has broken through an important trendline at 17.58 suggesting the next level of support is 16.64. The long-term uptrend has now turned neutral.

The stock has support at 16.64 and 15.38. If the stock breaks down through support at 16.64 then it will probably continue lower to 15.38. The stock will meet resistance at 17.58 and 20.40. If the stock breaks up through resistance at 17.58 then it will probably continue higher to 20.40. The 200-day moving average is at 14.36. This will also act as support. If the stock closes below 14.76 a negative trend change is probable. Look for the stock to fall to the 200-day moving average at 14.36. The stock is extremely overbought according to the Stochastic Indicator (89.67), so look for a possible pullback soon. Confirm this with the Short-Term and Daily Opinion to keep from exiting prematurely.”

Snap Inc (SNAP) “On a long-term technical basis, the stock (SNAP) is trading above its 200-day moving average which implies it is in a positive trend. However, the stock has broken through an important trendline at 15.69 suggesting the next level of support is 14.57. The long-term uptrend has now turned neutral.

The stock has support at 14.57 and 13.68. If the stock breaks down through support at 14.57 then it will probably continue lower to 13.68. The stock will meet resistance at 14.78 and 15.69. If the stock breaks up through resistance at 14.78 then it will probably continue higher to 15.69. The 200-day moving average is at 13.64. This will also act as support. If the stock closes below 13.12 a negative trend change is probable. Look for the stock to fall to the level where it started prior to the latest big upmove. The stock is slightly overbought according to the Stochastic Indicator (72.61).”