Snap’s stock price returned lower in the intraday levels, while hurt by piercing the upward correctional trend line in the short term, with negative pressure due to trading below the 50-day SMA, while readying to breach the support of $10.49, with negative signals from the RSI despite reaching oversold levels. 

 

Therefore we expect more losses for the stock, provided the aforementioned support of $10.49 was breached, thus targeting the pivotal support of $8.24.

 

Trend forecast for today: Bearish