Nov. 14 at 3:42 AM
$SNAP is currently trading at
$8.58, showing a bullish market context with an RSI of 59.29, indicating momentum but not yet overbought. The price is above both the 30-day MA of
$8.03 and the 50-day MA of
$7.96, suggesting a strong upward trend. The recent 60-day high of
$9.28 provides a potential resistance level, while the low of
$6.90 indicates solid support below.
Directional bias is bullish, supported by the price action above key moving averages and a favorable RSI. Suggested entry is at
$8.60, slightly above the last close to confirm upward momentum. Set a stop loss at
$8.20 to manage risk, below recent support levels.
Targets can be set at
$9.00, aligning with a psychological resistance level, and a second target at
$9.25, approaching the 60-day high. This plan leverages current momentum while maintaining a disciplined risk management approach.
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