$SNAP Bullish 📈Snapchat is looking really bullish.
It has currently formed a descending wedge and has 2 gaps to fill that are both in a very similar position and to the upside.
We are also well below our previous trading range so I believe we should be back testing the support of that range as a new resistance in no time.
Will be looking to add a long position on the break of the wedge,
SNAP trade ideas
$SNAP hitting a massive support! Great BUY for a LONG $SNAP hitting a very big trendline support + blue zone support and RSI support!
I can count around 7 clear bounces off these support zones, chances are this will be the 8th!
stop loss 49 - price targets 62.2/69.4
LET GET IT!
-Not Financial Advice-
WATCHING $SNAP - Key Levels and Analysis - UpdateWATCHING $SNAP - Key Levels and Analysis
Snap has some pretty strong downward momentum… I would not be surprised to see 40… In fact… that might be a good place to sell some puts… Thinking about it… maybe tomorrow.
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I am not your financial advisor, but I will happily answer questions and analyze to the best of my ability but ultimately the risk is on you. Check out my ideas, but also do your due diligence.
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OH $SNAP Baby!!!-Snap has been taking some serious hits but investors see this as an opportunity to buy in while its low bc they realize that snap has a short term problem that can be dealt with
-While many companies face labor shortages and supply-chain issues, pressuring the short-term marketing efforts, it is necessary to reflect on why Snap is so susceptible to these changes.
-Not too much info on how low she's gonna go but when she does bounce she'll bounce hard.
$SNAP Snap stock plunged Friday after the social-networking firm posted disappointing revenue growth and guidance that fell shy of estimates on Thursday.
The parent of Snapchat said its advertising revenue was hurt more than expected by Apple ‘s change in the rules surrounding advertising on mobile apps.
The miss weighed heavy on shares of other major social-media companies.
Snap (ticker: SNAP) stock was down 25% in Friday trading. Facebook (FB) was down 6% on the news, while Twitter (TWTR) was off 5%, Pinterest (PINS) had fallen 4.4%, and Alphabet (GOOGL) had slipped 3.4%. Snap is the first of the companies to report September quarter results.
For the third quarter, Snap posted revenue of $1.067 billion, up 57% from a year ago, and below the company’s guidance range of $1.07 billion to $1.085 billion. Adjusted Ebitda, or earnings before interest, taxes, depreciation, and amortization, was $174 million, well above its guidance range of $110 million to $120 million. On a non-GAAP basis, the company earned 17 cents a share in the quarter, beating the Street consensus of 8 cents a share.
The company said it grew daily average users in the quarter by more than 20% to 306 million.