Snap Inc (snap) Has No Friends At The Minute!

Discussion in 'Investment Charts' started by longtermbull, Jul 18, 2017.

  1. Chartman

    Chartman Senior Investor

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    The recent bout of profit-taking was probably to be expected and has taken some of the froth off the share price. However, there does seem to be genuine momentum behind the Snap share price and I would not be surprised to see the shares challenge recent highs over the coming days. Is there something going on behind-the-scenes with this one?
     
  2. longtermbull

    longtermbull Administrator Staff Member

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    I know the website/service has been changed/improved but what on earth is fuelling the recent rise in the share price. How can investors go from suggesting the company was dead and buried to chasing it higher and higher in a very very short space of time?
     
  3. Buyonthedips

    Buyonthedips Senior Investor

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    This is the first real test of the recent uptrend - will the shares fall through the next support around $16.60ish? Or will the bounce and kick start on the next recovery phase? All interesting times!
     
  4. longtermbull

    longtermbull Administrator Staff Member

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    Looks like the rally might be over for now - uncertain holders might sell into any short term strength. Is the tech market deflating a little after the recent market fall?
     
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