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Technical Analysis: Is This Social Media Stock Overbought After an Earnings Rally?

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February 23, 2022

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Snap had a sharp rally on February 4 after quarterly results beat estimates. But now its longer-term downtrend may be reasserting itself.

The first pattern on today’s chart is the stochastic oscillator. It’s swinging back to the downside after jumping into overbought territory.

Next, price tested but was unable to break above …

For more, please click here to view the related idea and chart analysis on TradingView.

Snap (SNAP), *daily chart with selected patterns and indicators, courtesy of TradingView*.

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Technical Analysis: Is This Social Media Stock Overbought After an Earnings Rally?

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