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


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 …

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