Can we snap $16 in coming weeks?
SNAP was forming an ascending triangle from Oct'22 and we broke the pattern in April upon earnings. But the market seems to be rushing back in the triangle again.With that, the fair value estimated by analysts is $16 as well.
It'll be interesting to see if we can close above 10.8x and start moving upwards. The stock currently seems to be following an upward channel (marked in blue) and we're at a crossroad today.
Disclaimer: This is not financial advice. Please make your own decisions while making an investment.
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.