SNAP may have hype on it's side for it's participation in the Metaverse, but SNAP earnings reveal a darker story. Negative earnings have been a key factor in this stocks recent declines. With no net gains in income, investors are bailing out until they see a light at the end of the tunnel. I recently deleted my Snapchat account due to Instagram's new TikTok add-on , so I have a little bit of a bias on the short comings of this stock. However, being bias, I would like to think I am backing this belief with at least some foundational analysis. SNAP has a gap to fill and I like to believe most gaps presenting themselves on the daily chart will eventually get filled. That being said, I have SNAP falling to 39 first which would bring the stock down to 1.618 fib retracement level, then to fill the gap further falling to 29 which is the 2.618 fib retracement level, before any BUY consideration will be made.
Not financial advice
Happy trading
Not financial advice
Happy trading
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.