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Stock Chart Technical Support On Snap Inc (SNAP)

Shares of Snap Inc (SNAP) plummeted on Wednesday after the social media company missed revenue and earnings expectations. The stock was trading at $17.35 (-8.59%) by mid-morning. The stock chart technical support on Snap Inc is $15.00, with a major up-sloping trend line connecting through previous major pivot lows. This gives technical traders a level to watch and buy.

Snap Inc has risen from $5.00 at the start of 2019 to nearly $20.00 at the start of 2020. To see a major retrace should be expected for all common sense investors and stock traders. The key for these smart investors and traders is where to buy. The first level for a bounce is at $15.00 based off stock chart technical support. This is a swing trade, not a long term investing level on Snap Inc.

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