The first indicator that helps show this is . I have overplayed a EMA-100 (Resolution 15 Minutes) to see the trend for the past few weeks. We can see that since March 29 the has indicated a sideways trend for the stock. This can also be seen without the indicator if you were to analyze the time period. However, the line was on the verge of crossing under the share price as of Friday. We could additionally see the line curving up starting the 18th of May. This last week has however all been good for SNAP and this trend will continue.
We additionally can simply look at levels of to analyze why SNAP will go up. I have outlined resistant and support levels for two different time periods ( from March 30 to present as well as from 18th of May to present). The bigger trend shows that SNAP touched the level of support at around 13th of May and has been going up since until resistance hit on the 20th. However, analyzing levels of resistance and support from the 18th of May to present indicates that SNAP just hit support and bounced back. As both time periods and levels of resistance/support show that SNAP is rebounding from touching support, this further warrants SNAP going up.
Finally, the last reason would be my custom Strategy. This is a strategy I have created on my own (I am aware of open source strategies, however this is of my own creation) and is showing an uptrend in SNAP since the 18th (also around the same time the smaller levels of were created). As you can see from the past few days, this indicator knows what this is doing and further supports an uptrend.
crossing under the share price with an addition to analyzing levels of support and resistant and analyzing trends makes me confident that SNAP will go up this week.
There are two scenarios:
1. SNAP breaks the level of resistance and shoots up.
2. SNAP simply goes up to the level of resistance and comes down
Either way a 6.5% growth is near guaranteed.
Please let me know if there is anything I am missing out or failed to notice. I am learning through ideas and I appreciate all the feedback.