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Feeling Like Shorting SNAP?

Published 03/13/2017, 12:04 AM
Updated 07/09/2023, 06:31 AM
SNAP
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If nothing else, this will win the Fewest Number Of Bars in a Chart award for the entire history of this blog. I honestly didn’t think I’d be shorting Snap Inc (NYSE:SNAP), but frankly I think the mania over it is so completely misguided that I couldn’t help myself. I have a reed-thin analysis for this tiny chart, which is that I’m short it with a stop-loss price of 23.80. It’s a tiny position, because it’s a pretty silly trade, but I at least wanted to let you know. It’s profitable so far!

SNAP Chart

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