Snap
$SNAP Closed Trade - Rejected Resistance Level Closed position at $62 from $53 Entry. Price was rejected at the $64 resistance level, solid trade GLTA still holding.
Snap Put/ SellThis is not financial advice. My projection here is pure7based on technical analytics and nothing to do with fundamentals. I’m expecting least 22% retracement.
Snap possible price action Wait for the breakout then buy on pullback. Chart looks clean and easy. Make your own decision
Bull Trap in SNAPWhy do I believe this could be a Bull Trap?
If you look at the previous times SNAP reached this level (upper border of the wedge), always got rejected and could not close above the upper border of the wedge!
In the past 5 days price climbing up but the volume dropping!
Makes it a good case for short!
The only problem is Max Pain:
58-59 for this and next week!
$SNAP Bouncing off Channel Top, Bullish With Snapchat having a selloff the previous day, I thought it was a healthy pullback after having nearly a 13% move in a few days, the top of the channel has acted as support and more buyers have entered which will push this higher to $65-$70 level, path of least resistance. Working out amazingly!
$SNAP Update - Looking for Support Snapchat cleared through its channel range the other day, topping nearly $61, a pullback today seems healthy with an almost 7% move the previous day. What I am looking for next is some support on top of this ascending triangle, if price can hold above approximately $58.50 for the week, I think it will give traders yet another opportunity to enter for a move towards $70. Watch tomorrow as the closing candle green will give this further strength in the near term.
SNAP - LongReally nice set up on here on SNAP. You have a triangle pattern on the daily with a nice bounce off the lows. Upper trendline meets the golden pocket retracement. Low risk entry here with a potential move up to the $60-62 range, with a clear stop on a break of the lower trendline around $51.
SNAP $55 Puts 5/28 expSnap approaching a bit of a sell-off this off
Confirmation:
-Rejection off the 50 MA (red)
-Hit top off downward channel
Enter: $57.15
SNAP movementI expect a bear regression trend, following up with some ne bull opportunities.
Let´s be patient, there might be come the next run.
Key levels are 50$ then 44$
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SNAP Still deciding where to go?Up or down still trading in range... as it dips I would buy. No analysis just what I see.
SNAP Resistance Levels SNAP has been trading inside the blue triangle for several months now. Marked on the chart are a few support zones which could serve as resistance in the short term. I'm watching for a retest of ~$58 after SNAP's selloff today. The market reaction across the board today seems to have been fueled by Janet Yellen's comments this morning on increasing interest rates. I do anticipate that growth stocks such as SNAP will be impacted pretty heavily when the Fed begins raising interest rates. However, under the Fed's current loose-money policy, that doesn't seem to be an immediate risk.
Last week we tested the inverted H&S neckline ~$64. Considering the extra volatility surrounding earnings, as well as the support level at ~$33.32, I don't think that today's price drop justifies ruling out the H&S pattern. If buyers return across the market and volume picks up, I think that price could attempt to climb back towards $64. Waiting to see which direction the market takes, with the next importance support zone being the triangle's base ~$48.50.
SNAP Might Snap Out Of Ascending TriangleSNAP is bouncing around an ascending triangle in the daily, 4 hour, and 1 hour timeframes.
There is a good amount of green volume on the daily, which makes me believe their is a good chance of a break out within the coming days/week.
According to the resistance on VPVR, if SNAP can break around the 62.50-63.00, it could reach All Time Highs once again.
SNAP Buy setupSnapchat parent company Snap Inc (NYSE:SNAP) showed strength in its advertising revenue in the first quarter. Analysts saw many positives from the quarterly earnings report.
Snap's first quarter checked all three boxes of revenue, users and EBITDA that Nowak was watching.
Snap’s advertiser base nearly doubled year-over-year in the first quarter. Up-front advertiser commitments grew by more than 50%, including a tripling of year-over0year up-front commitments for commercials from branded advertisers.
With initiatives like SNAP’s partnership with Gannett helping in developing relationships with SMBs across North America and integrating those businesses into products like Snap Map.
Snap has great potential technically and fundamentally for share price growth.
SNAP - Inverse Head and Shoulder BreakoutNYSE:SNAP
Long above 64.28 w/ a price target of 66.94 & 69.42
Inverse Head & Shoulder Breakout
Fall below 55.90, look to short for a gap fill
SNAP bout to POP!Theres a clear inverse head and shoulders pattern on the chart, which could be signalling the end of the consolidation period after its long bull run. (this pattern only completes if price hits the blue line I drew) Chances are the pattern will complete though since price closed near the highs and attracted more than average volume
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