Snap recently loss the 50EMA on the weekly but is trading at two important support points - Upward trend line and volume shelf support.
Watch for possible more downside to $50 zone, were I would want to see buyers defend here and push back to $60 zone target.
I'm in DEC $60 calls down -20% will exit the position with a close below $50 this week. I like the decrease in volume as sellers seem to be exhausted at this point.
Watch for possible more downside to $50 zone, were I would want to see buyers defend here and push back to $60 zone target.
I'm in DEC $60 calls down -20% will exit the position with a close below $50 this week. I like the decrease in volume as sellers seem to be exhausted at this point.
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.