Snap Inc. (NYSE:SNAP) fell by -0.86% in Thursday’s trading session from $15.03 to $14.90 and has now fallen 5 consecutive sessions. The price has fallen in 6 of the last 10 days and is down by -0.4% over the same course of time. There was a decrease in both volume and price. This is usually interpreted as a good sign as traders widely believe falling stock should see declining volume. Traded activity experienced a fall of -8.91 million shares and in total 15.14 M shares exchanged hands for about $225.62 million.
Inside SNAP’s Recent Trend
Snap Inc. (SNAP) lies the upper part of a very wide and falling trend in the short term, and this will normally pose a very good selling opportunity for the short-term trader as reaction back towards the lower part of the trend can be expected. A break down through the support point at $15.12 will initially suggest a lower tendency for declines in the price and this might very well be an early sign that a trend shift is coming. Short-term traders are anticipated to see a retreat of -18.94% over the course of a quarter and, with 90% chance the price will be floating in the range of $8.54 and $12.26 in this timeframe.
Snap Inc. Technical Signals
SNAP has witnessed its short term MA triggering a sell signal. Meanwhile, however, the long-term average has generated a buy signal. When the short-run moving average rises above its longer-term trend, a buy signal is created. This is because a short-run moving average that crosses its long-run moving average counterpart is seen as the initiation of an upward trend. On additional rally, the share price will meet short term resistance at around $15.05. On a drop, the stock is likely to find some support over the long run, which begins at $14.04. A buy signal will be generated if it crosses above the short term moving average. Meanwhile, however, a price crossing below the long term moving average will generate a sell signal. Some other technical concerns emerged as well, putting in risk the future growth of the stock in the next couple of days. Its pivot point high generated sell signal on Friday September 08, 2017, which calls for additional declines until the stock forms a new pivot point low, as this could be a buying opportunity. The downbeat movement of both volume and price during the recent session is interpreted as a good sign because traders usually believe falling stock should see declining volume.
Snap Inc. (NYSE:SNAP) Support And Resistance Levels
Snap Inc. (SNAP) recorded volume accumulation so there will probably be a surplus of buyers at $14.53. In case of gains, the next resistance from accumulated volume will not be far away from today’s level at $15.09, $15.13 and $15.27.
Accumulated volume is going to prevent the price from rising further at $15.09 and this action will lead the price to take a temporary pause or stay muted for a few days.
Snap Inc. (SNAP) Risk Assessment
A volatility based measure Bollinger Bands suggests this stock poses high risk. In the most recent session, the stock price hovered around $0.36 between high and low, or 2.43%. The average volatility for the past week stood at 3.96%.