Snap INC $SNAP has broken above a recent, almost month-long consolidation and closed at $11.84 last week (4/5). This is a long way up from the $5.00 low in late 2018. The daily chart shows the transition from a bearish trend, to a price bottom, to now a bullish trend. SNAP Daily Chart (click to enlarge) Bullish Reversal:- Price has started to make higher highs and higher lows.- It also has cleared above the cluster of 200-, 100-, and 50-day simple moving averages (SMAs), which can reflect a bullish reversal.- Last week's breakout into a new 2019-high suggests the current bullish swing is still intact.Bearish Prevailing Trend:- The thing is, SNAP is rallying against a prevailing bearish trend.- The fierce competition from Instagram has put a lid on market expectations of SNAP's prospective growth.- However, SNAP has been looking to pivot into the gaming space. Snapchat launches Mario Party-style multiplayer games platform (Techcrunch.com)- The market may be giving the name a chance, but I don't think this would drive SNAP into a sustainable bullish trend just yet.- The critical support/resistance pivot at $14 will likely be a critical resistance against the current bull run.- After that, I think we might see a consolidation between $10 and $14 going into 2020. Earnings Ahead:- SNAP has yet to prove that it can make money - it is still losing money every quarter, although the losses are getting smaller. - Still, even if there is a good earnings report this month (4/23), I think the upside will be limited to $14.