The stock has dropped from the $23-24 area to the pattern PRZ that actually points < 15 to the $14 level.
The is now poised to complete an @ 13.85. If the "ballpark area is 14-15, I expect that 13.85 to serve as a structural low extreme.
One concern: was stabilizing until a recent rollover into deeper oversold territory = still needs time but this is the exact zone to target with multiple structures.
The delayed reversal affirms a likely dip below 14 quite soon before the entire scenario is officially complete but the indicator is bottoming out.
Both patterns represent the extreme downside limit from a perspective. This is an important case where multiple patterns have been acting as the target for the current predominant downtrend while defining the limits of the entire post-ipo cash out. Despite the strong downside action, I do not want to ignore the potential opportunity outlined weeks ago that is now upon us. The entire situation is unfolding rapidly and may seem intimidating but the larger zone between 14-15 with an additional pattern structure that must not be ignored. I will follow up when and the TERMINAL BAR are triggered because this scenario has been an excellent example of extreme PRZ completions, particularly common in patterns.
Please review these posts since the beginning to follow how the structural formations identified the price parameters of the situation and that defined this larger downside target zone b/w 14-15.
Technicals are only 50% of the picture. Besides, as I have pointed in your earlier posts, you can't rely only on the price in combination with RSI... statistically they are highly dependent (multicolinearity issue). Moreover, RSI is only effective in a trading market, when there is a trend, RSI often produces wrong signals. Sure, you can spot divergences with RSI, but they still have to be confirmed by other indicators.
Deep Crab is outside my knowledge so no comments on that.
SNAP should hit $10/share.