![]() But you can see this chart for Snap pretty similar. Am I going to get excited about it? Not just yet, and I'll explain why. So we can see we have this run up into about mid-February, and then we have this little handle, almost like a cup-and-handle situation here. So after it emerged from bankruptcy, it has now sunk to lower levels.Īnd I just want to show a three-month chart of Hertz versus Snap, and you're going to see a similarity here. This doesn't even show the full three years. Over the last three years, this is another stock that got a nice push up some time ago after it emerged from bankruptcy, by the way. Kind of in the same camp that I'm not- well, I would say more technicals going on here probably than fundamentals, but even with Hertz, there is really not a fundamental story the way I was saying was Snap. So we have gotten a little bit of lift off from very, very depressed levels, but let's not get too excited just yet because there's a lot of work to do to get back up to these highs, much less anything else. And when you take a look at the last three years, then you really get a sense of where this stock has been and where it is now. Now let me show you a longer-term chart of the stock here, and you can see it's really been consolidating for about the last six months. When we clear some of these technical indicators right here, these technical levels, a lot of times there's just a short-covering rally. Not shown here on a two-day chart, but nevertheless. It was right around the 200-day moving average. Now, I also want to point out where we had some activity right on the open there. But when you consider its overall volatility and where it's come from, it may be a different manner- may be a different matter. So we see that stock up 12% today, and that is a big movement for a stock. So who would be one of the main beneficiaries? The obvious answer is Snap. I think is TikTok going to be banned outright in the US? It seems unlikely now, but it's picking up steam. JARED BLIKRE: Yeah, one of the bigger ones. ![]() Not much market action to speak of, but this is-ĭAVE BRIGGS: -probably the biggest story that we've seen. Jared Blikre here to break down the charts for us here.
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