Patience has paid off for those who bought the SNAP dip. There was a strong post-earnings rally and SNAP is now trading above $14 price levels. I have $17.53 and $23.61 as key long-term price targets to consider.
TrendSpider’s seasonality index suggests that $SNAP is likely to have some volatility over the next few months. Across 7 years of data, SNAP has been bullish 63% of the time in the month of April, 57% of the time in the month of May, 71% of the time in the month of July, and 29% of the time in July. On average, SNAP’s returns are +5.10% in April, -6.43% in May, +8.83% in June, and -4.89% in July. This volatility should be important to monitor for price fluctuations over the next few months with upside in April and June, downside in May and July.
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