$SNAP BreakdownSnap shares have been rejected by the $65 resistance zone, which indicates that $SNAP could see a large decline in the upcoming weeks. Notice the high volume on this pullback. Good Luck!
S2NA34 trade ideas
My View on SNAPSnap is trading in the uptrend and do consolidation on the weekly chart.
This company is very good to buy and hold. My prediction based on technical analysis, I believe SNAP would reach $100 in the next 12 months.
SNAP is trading at $60 after breakout the trendline. It would backtest the strong support level at $56, then go to $73 in the short-term as the previous ATH.
Therefore, my entry is $54 - $56 range, if the price action is a bullish candle in the daily chart.
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This is not financial advice. I'm not a Financial Advisor.
Trading is a high risk, do your own DD.
Let me know what you think
Cheers, I would share all my thought next time.
PEACE.
WATCHING $SNAP for ENTRY TARGET @ 52.08WATCHING $SNAP for ENTRY TARGET @ 52.08
I’m practicing to nail my entries better… if target hits I will take a position.
Fake Break up SNAPOrange line should be the watch out level. If bounced off it then ATH is coming (Ultimate goal $113)
$SNAP Trend Rejected @ $65 Snapchat met heavy resistance yesterday at the 65$ level, will not take any positions.
$SNAP Looking to Retest ATH As I updated a short while ago, snapchat did in fact break out of its trading range pushing near the $64 price level, and since then, had a healthy and expected pullback that found support on the top of the channel which is a bullish signal IMO. The price action in the next 2-3 trading days will determine if the market wants to take this higher back towards the $70 range which I believe will show strong momentum at the open tomorrow. I previously had a position in shares, but will instead be doing a multi-legged call position to maximize return. According to the price action in the morning tomorrow, positions I will most likely take are below. GLTA
6/25 $65 Calls
7/16 $65 Calls
7/16 $70 Calls
Not financial advice.
let's SNAP through that resistance line. No pun intended ;)All joking aside. SNAP is one of those stocks I am looking to go long this week. we can see a clear cup and handle, mulitiple attempts to break that resistance level and a clear pattern to be bulliish on this stock. I am confident SNAP will reach new ATH buy the end of this month or by the first week of july. I am getting an AUGUST 20 call if or in other words, when it breaks. You guys decide what strike price to get.
$SNAP Breakout
Snap expects its revenue to rise 81%-85% year over year in the second quarter, buoyed by an easy comparison to its slower ad sales during the start of the pandemic a year ago.
The Technicals are pointing to a breakout to all time highs out of this symmetrical triangle and inverse head & shoulder. A measured move from this pattern gives a target of 83.50 with an extended target of 94 on runners.
-Daniel Betancourt, OptionsSwing Analyst
SNAPReady for Swing?
- SNAP is at 64.10 resistance.
- It shows inverse head and shoulders
- Needs to consolidate before making a move
Suggestions: After consolidation or on confirmed breakout 2-3 weeks long 65$ call, If not a 50$ put
Snap ready for new highForming the bullish WW and now ready for new high or First target close to the trend line, Once break above the trend line, sky is the limit. shared the same view on twitter a week ago and SL was just saved at $56.
Cycles - Distribution PhaseFinished a massive uptrend (Green).
Is currently trading in between 64$ and 47$ which I believe is the start Distribution.
This phase can go on for months or years. Amazon has been in Distribution for a year now.
Only way to trade this is grab monthly contracts and trade between Resistance 64$ and support 47$. After Distribution phase a stock can then begin an uptrend or downtrend. A breakout or fall through above numbers will confirm the direction.
