$SNAP to suffer more losses?

$SNAP to suffer more losses?


May 2022


Alex Cole

$SNAP sees momentum return in the direction of the "NoGo" trend.

$Snap has struggled mightily since October of last year.  It has been in a strong "NoGo" trend.  From a high of over $80, the "NoGo" has seen price crater to lows just under $21.  While a lot of people like to bottom fish, there is no evidence that the stock is going to rally just yet.  The "NoGo" is still in place and painting strong purple bars and GoNoGo Oscillator is finding resistance at the zero line.  This tells us that momentum remains strong in the direction of the "NoGo" trend.  With two NoGo Trend Continuation Icons (red circles) in quick succession, look for price to make an attempt at another lower low.