Long

SNAP, YOU'RE NOT UGLY, YOU JUST NEED A FILTER

Updated

Snapchat
talk about potential to target a very specific audience.
Teens
the AI potential is cool
I'm sure they will be going the reel route
Sell targets in Pink
Buy targets in blue
It seems this stock might have a little downside left, but should start going pretty soon.
somewhere between the blue range could easily trigger a really quick move to $20.
Earnings is the 23rd.
Really good looking chart for trading.
Watch the trends.

Note

Bouncing support potentially up to three times and we are heading into earnings. Again, be careful because sometimes you see that low price target hit really fast and spring upwards during earnings and after hours. But, imo, SNAP is favored on the upside so buying around this level and below means you have statistics on your side. You can flip a coin at 50/50 chance and have 30 heads show up in a row, there are outliers to stats so be careful as always, but currently, it seems more like at this level and below, you're more likely to see return vs loss.

Note

Snap might be a good play, especially if we get around the $10.09 price again.
Could see a steep drop followed by return.
Ultimately, I'm seeing a lot of bullish projections and not many that take us down.
We should still be careful, but I like this play to 12.5 and then possibly even higher over the coming weeks.

Note

I'm looking at this currently for SNAP. If it opens, there is room to move up to 12.9 and then 14.3
SO, by that logic, we'd probably assume, this would be a short entry if the price was at these top targets into earnings. Especially if it's pushing 15 or so.
By the same logic, we'd probably assume, if down, then spring up to at least 10.3, meaning there is a chance to jump in a trade on multiple movements.

By current look. I'm thinking tomorrow is green, earnings finishes out the green, we see the retracement and start climbing up to 18.

Note

Chart will still be good as far as price targets go, but this short term pump could see a sizeable drop following so be careful, and as far as this trade goes, we'll probably call this trade done.

nicktussing77

Cashapp: $nicktussing
Venmo: @nicktussing
Donations appreciated, NOT AT ALL REQUIRED OR EXPECTED.

Related publications

Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.