I have posted a series on SNAP since post-ipo where I outlined a Deep Crab target @ 15.
The stock has dropped from the $23-24 area to the pattern PRZ that actually points < 15 to the $14 level.
The daily chart is now poised to complete an AB=CD @ 13.85. If the "ballpark area is 14-15, I expect that 13.85 to serve as a structural low extreme.
One concern: RSI was stabilizing until a recent rollover into deeper oversold territory = still needs time but this is the exact zone to target with multiple harmonic structures.
The delayed RSI reversal affirms a likely dip below 14 quite soon before the entire scenario is officially complete but the indicator is bottoming out.
Both patterns represent the extreme downside limit from a harmonic perspective. This is an important case where multiple patterns have been acting as the target for the current predominant downtrend while defining the harmonic limits of the entire post-ipo cash out. Despite the strong downside action, I do not want to ignore the potential opportunity outlined weeks ago that is now upon us. The entire situation is unfolding rapidly and may seem intimidating but the larger zone between 14-15 with an additional pattern structure that must not be ignored. I will follow up when RSI and the TERMINAL BAR are triggered because this scenario has been an excellent example of extreme PRZ completions, particularly common in Crab patterns.
Please review these posts since the beginning to follow how the structural formations identified the price parameters of the situation and that defined this larger downside target zone b/w 14-15.
The stock has dropped from the $23-24 area to the pattern PRZ that actually points < 15 to the $14 level.
The daily chart is now poised to complete an AB=CD @ 13.85. If the "ballpark area is 14-15, I expect that 13.85 to serve as a structural low extreme.
One concern: RSI was stabilizing until a recent rollover into deeper oversold territory = still needs time but this is the exact zone to target with multiple harmonic structures.
The delayed RSI reversal affirms a likely dip below 14 quite soon before the entire scenario is officially complete but the indicator is bottoming out.
Both patterns represent the extreme downside limit from a harmonic perspective. This is an important case where multiple patterns have been acting as the target for the current predominant downtrend while defining the harmonic limits of the entire post-ipo cash out. Despite the strong downside action, I do not want to ignore the potential opportunity outlined weeks ago that is now upon us. The entire situation is unfolding rapidly and may seem intimidating but the larger zone between 14-15 with an additional pattern structure that must not be ignored. I will follow up when RSI and the TERMINAL BAR are triggered because this scenario has been an excellent example of extreme PRZ completions, particularly common in Crab patterns.
Please review these posts since the beginning to follow how the structural formations identified the price parameters of the situation and that defined this larger downside target zone b/w 14-15.
