Snap Inc. (NYSE:SNAP) fell by -0.34% in Thursday’s trading session from $14.53 to $14.48 and has now fallen 4 consecutive sessions. The price has been moving in both directions for this period, and there has been a 5.16% gain over 10-day period. 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 -2.52 million shares and in total 13.15 M shares exchanged hands for about $190.39 million.
Inside SNAP’s Recent Trend
Snap Inc. (SNAP) lies in the middle of a very wide and falling trend in the short term and pointed towards extra losses. Short-term traders are anticipated to see a retreat of -2.83% over the course of a quarter and, with 90% chance the price will be floating in the range of $11.24 and $14.85 in this timeframe.
Snap Inc. Technical Signals
SNAP has witnessed its long term and short term MA triggering a sell signal. Many traders watch for long-term averages to cross above short-term averages to signal the beginning of a downtrend. Upon corrections, the price will meet resistance from the averages between $14.52 and $14.54. A buy signal will be generated if it crosses above any of these levels. Its pivot point high generated sell signal on Monday October 02, 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 $13.77. In case of gains, the next resistance from accumulated volume will not be far away from today’s level at $14.53, $15.09 and $15.13.
Accumulated volume is going to prevent the price from rising further at $14.53 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 $0.46 between high and low, or 3.26%. The average volatility for the past week stood at 3.57%.