Snap (SNAP) closed the most recent trading day at $63.17, moving +1.41% from the previous trading session.
Snap stock tried to break out from a small handle with a 63.94 buy point, but that soon fizzled as shares neared the April 14 short-term high of 65.86. After finding support at the 50-day line, Snap stock rebounded late in the week. Technically, Snap has a new handle on a daily chart with a 65.76 buy point, just above the June 14 high. This is a case where drawing a flat line across short-term resistance from mid-April and this past week makes the most sense.
Two years ago, Snap (NYSE: SNAP) appeared destined to watch its business be eroded by the 800-pound gorilla of social media, Facebook (NASDAQ: FB), as the growth in its user base stagnated. Snap has billed itself as a "camera company."