Open buy · week 9
Snap jumps 11.6% and reclaims its 200-day average, setting a new 90-day high
Our view last week
Snap stock is rising again: up 3% on the week after 2 straight losses, with a 4% rebound off the 20-day moving average in the 5.5 area. A week ago the price action showed the first signs of a reaction; now the recovery is here, but it stalled below the 200-day average, in the 5.83 area, which firmly rejected the price. Money flow has improved for 2 weeks but stays negative. For swing trading the level to watch is the 7-day high, in the 5.79 area: the weekly buy signal remains in profit.
This week's summary
Snap gained 11.6% on the week and set a new 90-day high, in the 6.35 area. A week ago the recovery had stalled below the 200-day moving average: now Snap stock has reclaimed it, along with the 50-week average, after a 10% rebound off the 20-day average. Money flow has improved for 3 weeks but is still negative. For swing trading, the weekly buy signal is up 16.9%, with the 30-week high just above, in the 6.36 area, still to be cleared.
IQS Phase
45
ordinary
Signal Strength
74
high · wide & volatile
Sizing
FULL
Ranking
#24 / 92
US stocks in progress
Trade P&L %
+16.89%
from signal to date, no stop loss
Rank position
ranks 24th among the 92 Longs already running for US stocks in our ranking, with a signal strength of 74 out of 100.
Sector context
SectorCommunication Services
Benchmark ETFXLC
Sector regimein positive regime
Performanceweekly +0.05% · monthly -0.41%
SNAP belongs to the communication services sector (reference ETF XLC). The sector is classified in positive regime according to our weekly reading.
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