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Fan Yang

Snap Inc. (SNAP) Confirms Bullish Trend with Strong Reaction at $14

The 2019 recovery in Snap Inc. $SNAP continues. We have already seen many developments of this bullish year, from a price bottom to a moving average cross-over to a other key resistance breakouts. We have been looking at a $17 target in 2019.

SNAP Daily Chart

(click to enlarge)

Breakout and Bullish Confirmation:
- In the previous assessment, we noted that $14 was a key resistance level.
- We can see that price initially held under $14 in June, but eventually broke above it. 
- Then, after retreating from $15 back to $14, price bounced off this previous resistance, treating it as a strong support.
- This is a good sign that the market is still in bullish mode.
- Our $17 target remains viable.

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