Snap Inc. (SNAP) has had a rough first eleven months. A selloff quickly sets in after the IPO launch in March but prices did not finally start to grip until August. Buying interest has come in around $12 in August and again in November. Let's dig a little deeper to see what else the charts and indicators can reveal.
In this daily bar chart of SNAP, below, we can see a sideways consolidation pattern from July till now. Prices have traded above and below the sideways 50-day moving average line. There is not much history with the 200-day average, which is declining and above the market. A rally by SNAP above $16 would break the decline.
The On-Balance-Volume (OBV) line has been going down and up with the price action and currently shows no special bias from bulls or bears. The Moving Average Convergence Divergence (MACD) oscillator is below the zero line but looks poised to generate a cover shorts buy signal.
In this Point and Figure chart of SNAP, below, we can see that rally to $15.00 would be positive and a decline to $13.05 would be negative.

Bottom line: When you analyze a new issue you have limited price history or data. You have no good clues based on past history about how long a consolidation pattern may last. I don't know if or when SNAP will break out but a strong close above $17 should generate further upside strength. A close below $12 is likely to weaken the chart.