Here we see a right angle broadening formation, with the accumulation line on the bottom.
What appears to be an island reversal pattern appeared in the daily chart, marked by the yellow rectangle, which is typical of congestion patterns like this.
Broadening formations are typical of late stage bull markets and are accompanied by irregular volume throughout.
A majority of broadening formations carry bearish implications, and a breakout occured today in SNAP, although not by the generally "safe" 3% margin.
I would expect a throwback, but the pattern implies a -65% move to the downside to 17.5, although not necessarily soon.
What appears to be an island reversal pattern appeared in the daily chart, marked by the yellow rectangle, which is typical of congestion patterns like this.
Broadening formations are typical of late stage bull markets and are accompanied by irregular volume throughout.
A majority of broadening formations carry bearish implications, and a breakout occured today in SNAP, although not by the generally "safe" 3% margin.
I would expect a throwback, but the pattern implies a -65% move to the downside to 17.5, although not necessarily soon.
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Exención de responsabilidad
La información y las publicaciones no constituyen, ni deben considerarse como, asesoramiento o recomendaciones financieras, de inversión, de trading u otro tipo, proporcionadas o respaldadas por TradingView. Obtenga más información en Condiciones de uso.