S2NA34 trade ideas
$SNAP BULLI like the look of SNAP here at these levels. Buying $53 Calls for next week. 1.60 average price. Looking for 55+
SnapchatMission:
Snap Inc. is a camera company.
We believe that reinventing the camera represents our greatest opportunity to improve the way people live and communicate.
We contribute to human progress by empowering people to express themselves, live in the moment, learn about the world, and have fun together.
Recent News:
1. With a mosaic of communication tools, the Snapchat Generation believes they can help change the world. Over half (53%) believe they have the power to make social changes and contribute to activist movements using social platforms.9 Their fierce dedication to activism extends beyond social platforms as they vote with their dollars by engaging with and purchasing from brands that support their values.
2. The Snapchat Generation represents a new kind of shopper, one willing to immerse themselves in stories and experiences, and use the latest tech to their advantage. As a group, Snapchatters hold a whopping $4.4 trillion in global spending power.6 They’re willing to outspend non-Snapchatters on common purchases across every retail and service category. They consider big and small brands in equal measure. 1 in 2 say they like to learn the backstory of brands and products they buy.7 And they’re 3X more likely than non-Snapchatters to say they’re using AR more than they did last year to try on products.8 Brands that craft compelling narratives and cutting-edge experiences can forge a strong connection with this generation.
3. "2020 was a really strong year for us and we are thrilled with the momentum we're seeing. We reached more than 60 million users in India in Q4 20, with strengthening growth throughout the year, and see our community engaging across all parts of Snapchat -- from chatting to Discover content, using our Camera and getting creative with Lens Studio," Murugesan said.
He added that augmented reality (AR) is revolutionising how people communicate, are entertained, learn and experience the world.
Source: Snapchat newsroom
Like Follow Agree Disagree
SNAP - 2 countsA couple of bullish (eventually) counts for this US stock. Both counts suggest the same outcome though and present a bullish outlook for this stock.
Snap Finding Support at $49 Purchased a couple $49 Call options for the end of the week...looking to bounce off of the support here at $49 to touch the green target zone ~$54.50.
SNAP Calls Weekly Play!Snap About to Break Channel Up here
Tight stop loss @ $50.80
Bulls want it to $55 this week
SNAP in a bear flag? Potential bearish flag forming on SNAP. Volume also declining on flag.
Keep on you radar
SNAP must hold the line!The bear flag hit our price target perfectly, so perhaps the worst is over.
Historically we've had some serious support at $49, so we should be able to stay above this level.
If we break the support level and then break down from the falling wedge, then we can expect to fall further toward the 200d MA.
If we stay within the falling wedge, we can remain bullish.
SNAPPretty sick price action lately for those watching it how I was. False breakdown of the black trendline to a false breakout of the blue trendline. Not surprised it got smacked hard today after all that. Probably goes lower.
SNAP -another chance to snap some upSNAP's trendline support is still valid. It bounced off this support on 8 March, swung up from 52 to 65 (forming a mini swing AB) before retracing almost all the way test near the trendline again today. After a scary start to the day (when SNAP was down more than 6%) , buying support came right near the trendline and recovered to form a bullish pin bar. It sure looked like SNAP's "supporters" have been eyeing to stake around this trendline!
Still bullish on SNAP as long as this trendline is not breached. Current stop loss will be 53.90, slightly below trendline.
Disclaimer: This is just my own analysis and opinion for discussion and is not a trade advice. Kindly do your own due diligence and trade according to your own risk tolerance. Thank you. Feel free to give me your thoughts ! :)
SNAP time to see how it reacts in the 55 areaCheck during the day an entry pattern in the 1H Chart
Target price: 70
Expected return: 25%
$SNAPThis is simply overvalued, it needs to come down to $27-ish. I might sound crazy but thats what the chart telling me. If the market decides to correct then, you know where to buy. Dont expect it to happen overnight but it will get there.
Trade Safe.
P.S. Let me know what you think.
SNAP 🌦Pattern recognized: Running flat Elliot Correction Wave.
Thesis: Bullish sentiment.
Conclusion: Look for fractal on the 5 min.
My strategy: MEWT (MODIFIED ELLIOT WAVE THEORY). Might do LEAPS.
***This does not constitute financial advice.***
SNAP Round UPSNAP is forming the last leg of its rounding formation, by looking at the hourly this could hit as early as the next 2 trading days. Its moving averages are acting as support and are starting to curve upward showing bullishness.
SNAP Wheel Strategy Short PutSnapchat is down 25% from its highs, and while it has bounced up a little bit from the highs, it still remains oversold. Now might be the right time to sell a put into weakness and collect premium.
Trade Idea:
Medium Risk: The 44 Put expiring 4/16 for $1 credit . It has a 81.5% Prob. OTM and if you do get assigned, your cost-basis per share will be $43 and it is a good place to own as you will be in the middle of the volume profile for the last 6 months meaning that you won't be buying at the top but at the same time the bottom.
Aggressive: The 47 Put expiring 4/16 for $1.5 credit . It is right below support and has a higher 75% Prob. OTM. While you have a higher chance of getting assigned with this one, considering the support level that hasn't been breached for months, you still have high odds of collecting the premium and not get assigned. Even if you do get assigned, your cost-basis per share will be $45.5.
For both of these trade ideas, if you believe in Snapchat's fundamentals, which are pretty modest, you can hold on to the stock and sell covered calls (70-80% OTM) and collect premium until you get assigned. Once you do get assigned, you can come back to selling cash-secured puts again.
$SNAP DAILYNice move on Friday and tons of call flow for 61 and 65.5 calls 3/19 exp. $SNAP above all moving averages now. If this breaks 66 level, all time highs coming.
