In today’s stock of the day, let’s take a look at Snap Inc., which is showing a very promising technical setup on the weekly chart.
Last week was particularly strong, with the price rising significantly and shifting the overall sentiment.
What stands out here is the early stage of an ICT Unicorn pattern. In this case, we see a fair value gap breaking below a previous order block after liquidity was taken from the lows. This sequence often signals a transition into a bullish phase.
From a sentiment perspective, things are clearly improving.
The next target is the yellow horizontal resistance, which comes from 2025 levels. That’s the natural upside objective if the current momentum continues.
Equally important is the blue support below. As long as the price stays above this level, the bullish scenario remains valid.
There’s also an additional confirmation coming from price structure. We now have three strong bullish weeks that overlap and effectively erase the impact of the previous three consecutive bearish weeks. This kind of shift is often referred to as a change in the state of delivery, and it supports the bullish outlook.
So overall, both structure and momentum are aligning here, pointing toward continued upside as long as support holds.