Carlito101
Long

SNAP - Finally enough millenial rektage?

NYSE:SNAP   SNAP INC
SNAP has thoroughly rekt millenials for a couple years now and finally reached a price where buyers were willing to accumulate down in the $5-$7 range. A lot of people are now convinced that snapchat is dead, but may end up being surprised.

Breaking this angle would have me targetting the volume core of 13-14, with a second target in the $15 range.

Beyond that It will need some time to work itself out and I will re-assess. This may be turn into a long term bullish play.

Bear case:
If we fail to break the down trajectory on this attempt, or simply fakeout above and move back, I will exit and re-assess.
Falling below 9.22 I would not be comfortable longing until it offers a nice setup.
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