MARKET ALPHA VIDEO REVIEW - SNAPNYSE:SNAP
Check out my detailed analysis on how I came up with the technicals you see here.
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1SI trade ideas
Snapchat - Great Earnings!-CEO points to highest revenue and user growth rates in four years
-Snap Inc. saw revenue more than double in the latest quarter, easily topping expectations amid a continued rebound in the advertising market.
-Shares were up 18% in after-hours trading after the company posted second-quarter revenue of $982 million, up from $454 million a year earlier and vastly ahead of the $846 million that analysts tracked by FactSet had been projecting.
-The social-media company added 13 million daily average users sequentially in the period, bringing its total to 293 million. The FactSet consensus called for 10 million net additions.
-Snap SNAP, 21.68% cut its losses in half, posting a net loss of $151.6 million, or 10 cents a share, compared with a loss of $326.0 million, or 23 cents a share, a year earlier.
-After adjusting for stock-based compensation and other expenses, Snap surprised with positive earnings per share of 10 cents, whereas it posted a 9-cent loss per share a year earlier. Analysts tracked by FactSet were expecting a 1-cent adjusted loss per share.
-“Our second-quarter results reflect the broad-based strength of our business, as we grew both revenue and daily active users at the highest rates we have achieved in the past four years,” Chief Executive Evan Spiegel said in a statement.
Consolidation , Short at market openingIf this gets over 73.59 , that will be the start of a ATH and a new uptrend. After just 3 months of consolidation i doubt it will do that. Same thing happen back With apple and Amazon at there last earnings back in May. Amazon was up 80$ premarket which put it at the top of consolidation, at the end of the day Amazon finish -70$. Im not saying this +9$ premarket goes Red , im saying that it will not hit a new high and will lose a significant chunk of its earnings.
First target fib support 67.53
If this gets and holds over to 74$ Negate
Lets see
SNAP EARNINGS LEVEL WATCHLISTNYSE:SNAP
Can a great earnings report get through these levels of resistance?
Midweek Watch 7/21 - $SNAP LONGThe 50d, the monthly pivot, and previous low. Lots of confluence there. The quarterly will also catch my eye. IF it never gets down to that level, I’ll also be watching 62.80.
SNAP 2h Chart SNAP is now forming its right shoulder to complete an inverted head & shoulders. If we are able to get confirmation and have it break the white line on the chart - we may see a solid breakout to even new all-time highs. It is trading above the EMA 9 / 21 / 50 / 100 but under the VWAP.
VWAP: 62.01
TP: 63.75 - 65.85 - 68.05 - 70+
SNAP levels for post-earningsSNAP can make a large move out of consolidation with earnings as a catalyst.
Snap Puts August 07th $58 puts looking for a price target target of $53-$52. Breakdown below the icchimoku clouds as well a a parabolic sar as well as sitting below the 200 ma w a macd converegence few days back. Looking real good
long SNAPwatch it play the triangle a bit further before scoping an entry, or simply wait for a high volume breakout.
Target - green box
Stop - red box
not financial advice.
VCP (MINERVINI TWITTER)For study purposes
Very strong moves, tomorrow most likely will break out of its line of supply.
Snap Inc. $SNAP is leading, now waiting for follow through The stock formed a long base while above its moving averages and in the last weeks is been leading the sector. So, I took position on NYSE:SNAP on the breakout above the $65 resistance level. Now waiting to a good follow through to buy more. A good buy level for me would be higher than $69.60.
The risk/reward ratio (2:1) has a target price above another resistance level, so I'll be very carefull once it gets there. Probably I'll just rise my stop to breakeven.
NYSE:SNAP is been having a really good revenue growth, annually and quarterlly. Its EPS is not as good as I'd like but it has the technicals that I look for.
$SNAP - Potential for a Bullish BreakoutSimple trade thesis here for you all!
SNAP has recently surged, and is flirting with all time highs yet again. We've been making higher lows after getting rejected off of 69.40 twice, and are looking to have another retest over the coming days.
If we break above 69.40 we likely visit 70.90, and above that we take a trip to 73.55 before ultimately carving out new all time highs.
Keep your alerts set for this one traders, SNAP tends to move aggressively. Don't get caught chasing!
SNAP Pivot BreakoutBreakout on above average volume. Volume on the day before the breakout 62% of average. Looking for a move towards the high.
Entry: 65.67
Stop: 59.43 (-9.50%)
Symmetrical TriangleHas broken upper trendline of the triangle.
Possible stop at last pivot low or below support.
Price at upper band set on an 80 dma.
No recommendation
SNAP BUY OR LONG TARGET $80Snap confirmed a breakout of the " SHS " pattern, the target of the
pattern is $80, of course you still need a safe stop around 8%.
Good luck.
SNAP could be headed to $85snapchat $SNAP has been range-bound and rejected multiple times at the $65 level for the past 6 months, and finally broke above it. Measured move is to around $85.
Do your own research, this is not financial advice.
