FOMO

Resistance

Billion

View

<ul class="list-ic vertical"> 
 <li> <span>1</span> <a>Snap Inc. stock price at press time was $9.24 with a drop of 0.11% and a market cap of 14.995 Billion.</a> </li> 
 <li> <span>2</span> <a>SNAP took a reversal after a sharp surge, giving a return of -28.15% this month.</a> </li> 
</ul> 
<p>SNAP is trading at $9.24 with a trading volume of 10.359 Million. The average trading volume of the last 10 days is 18.138 Million. The current market cap of the company is $14.995 Billion with a price-to-earnings ratio of 0%. The floating share value is 1.006 Billion with a basic EPS of $000.</p> 
<p>The Q2 2023 earnings of the company gave a revenue of $1.07 Billion and a net income of -377.31 Million with a profit margin of -35.34%. However, the Q2 earnings were not better than the Q1 2023 earnings.</p> 
<p>This year SNAP’s performance was excellent. Since the beginning of the year, the company has given a return of 0.98% to its investors. However, persistent weakness in momentum has been observed.</p> 
<p>As per TradingView, out of 26 indicators,11 are on the sell side, 10 are on the neutral side, and 5 of them indicate a buy signal. However, the overall weightage of indicators is on the sell side.</p> 
<p>As per TradingView, 31 analysts gave a maximum estimation of a price to be $15.00 and a minimum estimation of a price to be $6.00.</p> 
<p>Moreover, out of 41 analysts, 4 are giving a strong buy signal, 2 are giving a buy rating and 30 suggest holding, one indicates sell while 4 gave a strong sell indication.</p> 
<h2 class="wp-block-heading" id="strong-snap-stock-technical-analysis-strong"><strong>SNAP Stock Technical Analysis</strong></h2> 
<div class="wp-block-image"> 
 <figure class="aligncenter"> 
  <img decoding="async" src="https://lh4.googleusercontent.com/1stFsVS_oI7U9Wv9Q_rDyrHAiXhMxtrGk2Cl77Ye18ZKIOYkyN_Wp9wPGKUPfaklHiZGQOlmQ1WVVfAMjBiM2WFGJrKNF1GUXbsKxk8j2KW8BVfzgPmMEJUdLgXKPD1ddzhaO7pa1UboUpI5WEewyOk" alt="SNAP Stock Price Prediction: Will Snap Inc. Break the $8 Level?"> 
  <figcaption class="wp-element-caption">
    Source: Trading View 
  </figcaption> 
 </figure> 
</div> 
<p>On the 4-hour charts, Snap Inc. stock is on the verge of a breakdown, which registers when the price trades below $9. However, buyers are accumulating the stock by defending it from the support of $9.20.</p> 
<p>RSI shows sellers’ presence. The RSI curve is floating near 30, which indicates that the stock is oversold. This could be a sign that sellers are starting to lose control of the stock. However, the RSI is still in the neutral zone, so it is too early to say for sure that a breakdown is imminent.</p> 
<p>MACD shows bearish momentum. The MACD is bearish, showing red bars on the histogram. This suggests that the momentum in the stock is bearish. However, the MACD is not yet in the oversold zone, so it is possible that the stock could stage a rally before breaking down.</p> 
<p>According to the technical chart, SNAP took a sharp rejection from the upper trendline of $13.91 and broke the 50 and 200 EMA lines. Moreover, the price was currently resting at the level of $9.</p> 
<p>MACD breached the middle line and is headed downwards. The MACD line is beneath the signal line, demonstrating bearishness in the stock.</p> 
<p>The RSI line is also heading towards the oversold zone, breaching the median line. RSI line is beneath the 14 SMA line demonstrating bearishness.</p> 
<h4 class="wp-block-heading"><strong>Conclusion</strong></h4> 
<p><a href="https://www.thecoinrepublic.com/2023/08/24/marvell-technology-mrvl-stock-what-to-expect-from-q2-results/" rel="noopener noreferrer nofollow">Snap Inc. stock price</a> went past the 50 and 200 EMAs. The MACD and RSI are indicating a downtrend in SNAP price. Snap Inc. investors must avoid the FOMO (fear of missing out).</p> 
<h4 class="wp-block-heading"><strong>Technical Levels</strong></h4> 
<ul> 
 <li>Support levels: $8.89 and $8.36</li> 
 <li>Resistance levels: $13.91 and $11.56.</li> 
</ul> 
<h5 class="wp-block-heading"><strong>Disclaimer</strong></h5> 
<p>The analysis provided in this article is for informational and educational purposes only. Do not rely on this information as financial, investment, or trading advice. Investing and trading in stock involves risk. Please assess your situation and risk tolerance before making any investment decisions.</p>

SNAP Stock Price Prediction: Will Snap Inc. Break the $8 Level?

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Thecoinrepublic.com

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