Big movements in Snapchat stock price on Friday moving 11.19% between high and low

The Snapchat stock price fell by -28.08% on the last day (Friday, 21st Oct 2022) from $10.79 to $7.76. It has now fallen 3 days in a row. During the last trading day the stock fluctuated 11.19% from a day low at $7.33 to a day high of $8.15. The price has been going up and down for this period, and there has been a -27.2% loss for the last 2 weeks. Volume has increased on the last day by 244 million shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 244 million shares were bought and sold for approximately $1.89 billion.

The last rating was given by Susquehanna on Oct 21, 2022. The price target was changed from 11 to 8.Over the last 90 days, this security got 9 buy, 24 sell, and 1 hold ratings.

The stock has broken the very wide and horizontal trend down. Breaks like this are often followed by swift and strong movements, and any correction down to the breakline at approximately $10.02 is considered to be a "second chance" to get out before further fall. It is, however, important to note that false breaks may appear and that the price may move back into the horizontal trend. A break on increasing volume is considered to be more significant and reliable than breaks on low volume.

Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Some negative signals were issued as well, and these may have some influence on the near short-term development. The Snapchat stock holds sell signals from both short and long-term moving averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at $10.17 and $10.85. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Monday, September 12, 2022, and so far it has fallen -38.66%. Further fall is indicated until a new bottom pivot has been found. Volume rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely.

There is no support from accumulated volume below today's level and given the right condition the stock may perform very badly in the next couple of days.

This stock has average movements during the day and with good trading volume, the risk is considered to be medium. During the last day, the stock moved $0.82 between high and low, or 11.19%. For the last week, the stock has had daily average volatility of 7.31%.

Snapchat holds several negative signals and this should be a sell candidate, but due to the general chance for a turnaround situation it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development.We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Hold/Accumulate candidate.