I would like to stress that SNAP is not a good chart-
Jan 14 SNAP has low of $48
Jan 27 SNAP has low of $48
March 29 SNAP has al ow of $48
5/13 low of $49.90
7/16 low of $59<--------
recent break down zone $55.
If I just look impartially at those plot points I would say a trade to $55 is virtually guaranteed from $48... and you probably have a one in four chance of it keeping going.
It would SEEM stress the SEEM that $48 level is a safe(ish) place to buy SNAP.
It's been holding above $49 pre-market.
I noticed you emphasized "SEEM".
I agree.
It's too obvious of a trade, and those rarely work out.
I don't think its set its low yet tbh, and as much as I love the stock for the long haul.
$45 maybe? $44?
Or... maybe the whales will start buying.
I've been seeing alot of option action that suggests it's going lower however.
Watch ALDX today btw, lets see what it does.