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$SNAP Bottoming Tail Likely Tells Investors To Do This

On Thursday, shares of Snap Inc (NYSE:SNAP) sold early and sold hard. However, by late afternoon they were green and up over 2%. This major reversal off of all-time lows is a strong buy signal known as a bottoming tail. The stock is down almost 50% off its highs and well below its IPO price. With earnings next week, this may be the signal that the share lockup sell-off and fear trade is over. This is a definitive buy alert and will remain so unless the stock closes below Thursday's low of $11.90.

 

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