Clarrgy
Nov 13, 11:24 AM
$SNAP This might be a stretch for some, but I'm seeing clues pop up all over the place for a sustained rally in this name once it clears the tough resistance at ~
$8/share. That's where most accumulation has occurred in this company's public history.
In 2018, it undercut significant support before the rally of a lifetime occurred. It's doing the same thing today. Only this time, the stock has been in a rut for 5+ years in classic stage 4 analysis fashion.
Since September 2022, when RSI (momentum) bottomed, a prolonged accumulation base has formed, with plenty of fake-outs and breakdowns, but momentum hasn't fallen further, indicating an LT bullish divergence.
I believe this next bullish push will sustain into a major rally because of the potential for a massive downtrend break, which has proven strong as an ox since it top-ticked in 2021.
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