TRADING TIPS

SNAP Looks Like It Wants to Go Lower

Hubert Senters here. I had a question from a viewer on Snapchat, SNAP. I’m not a huge fan of the company but I’m just looking at a purely technical so that won’t really matter in my opinion how the company does or does not make money it does not matter to me. We’re just looking at the technical so you have had a gap above the cloud which is bull-ish in nature and you haven’t really taken out a new high or new low with any significant. So this would be the breakaway gap to the high side on that bar. This would be the breakaway gap to the low side. And as you can see you’re out there on the very bottom of that and it’s just inching down, so that implies that it was — come down here into either a half a gap fill or a full gap fill. So in that situation right here what I would do is I am going to use a little Fibonacci from there. It acts like it wants to go to $15.60 which is about $2 lower and that is on the SNAP. Larry Gaines is going to be doing a special webinar on ‘’The Amazing Butterfly & Long Condor Option Strategy.” His webinar is going to be Tuesday, February 27th at 7PM Eastern. You can also read down here all the bullet points of what he’s going to be sharing with you on that webinar. Click CLAIM MY SPOT NOW to register for the webinar. Good luck. Hope it helps. And I’ll see you on the next video. Hubert.  

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