Snapchat parent company Snap Inc. (SNAP) made a new 52-week high last Friday in a beautiful breakout pattern. As shown below, the stock traded in a very nice uptrend over the first seven months of 2019, but then it began a multi-month consolidation phase. During this consolidation phase, the stock rounded out a bottom (a cup formation) all while holding above support at its 200-day moving average. The end result was Friday’s break to new highs.
Below are charts of SNAP and a handful of other related companies in the online/social media space. You can very easily build custom portfolios like this on our website with a Bespoke Premium or Bespoke Institutional membership. Being able to easily monitor the stocks and ETFs you’re most interested in with our Custom Portfolios tool is extremely helpful. Start using our Custom Portfolios tool and everything else on our website with a two-week free trial to Bespoke Institutional.