Snap Inc. (SNAP) gapped to the upside the other day and closed strong above the bottoming 200-day moving average line after a better-than-expected earnings report. Let's check out the charts to see where prices could be headed from here.
In the daily bar chart of SNAP, below, we can see the price gap and a huge surge in trading volume. The 50-day moving average line is bottoming now and the On-Balance-Volume (OBV) line has firmed.
The Moving Average Convergence Divergence (MACD) oscillator has moved above the zero line for an outright go long signal.