1SI trade ideas
Daily Wisdom 59 - Streaks, can you survive them?It only takes a few consecutive trades to wipe you out. Ensure that never happens.
SNAP PredictionSince the election is less than a week away & uncertainty continues to grow due to COVID, I believe SNAP will have no choice but to pullback & fill the gap from earnings last week. Not only is it extremely overvalued, but I don't see it as a good hedge against a possible market correction in the near-term future. The only thing holding it between this 40-42 level, in my opinion, is the overconfidence of investors in the social media sector, however, volume has been steadily decreasing this past week. Another possible reason it's been holding up against a bearish market could be some form of manipulation, but I'm not sure. Heavy open interest with Oct. 30 call & put options is sitting between this key level as well, so that could be a reason for manipulation to eat away at premiums, but of course this is just me speculating. Other than lowered volume, major overextension on the RSI, crossing below VWAP, crossing below EMA20 this morning, & no actual support anywhere near the current valuation, I don't see any technicals pointing toward it becoming bullish. Let me know your thoughts.
What goes up, must come down - SNAPSnap had the most epic run up last week surpassing 40%. They reported an increase of 18% in active users from a year ago and a 12% decrease in net losses. While all fun it is now time time to scale out because of the earning reports this week. Social media giants including Facebook, Twitter and Pinterest are all anticipating a growth in active user engagement thanks to worldwide lockdowns. Snap stayed focused even when instagram stories was released. I am impressed with its evolving media platform and excited to see what Evan Spiegel will release next.
BUY !!! We are facing another Wall-St manipulation on Snapchat.
BTIG analyst Rich Greenfield downgraded Snap - price target $5 so the big boys can load up and steal million cheap shares .
Remember when BTIG was downgraded FB in the past , and later they came out said : ''not having a buy on Facebook has clearly been a mistake in 2017 and we are simply not going to allow that mistake continue''
I am very confident on Snap. Snap has unique futures than any other social media app in the market .
Dont sell your shares if you are long on Snap.
''Opinions are my own , trade at your own risk''
congrats to anyone who played thisif you took my share alert like i know many of you did! congrats, we will be up over 100% from entry in no time! i smell 100 , hmmm
OverboughtBeat estimated revenue (0,01 EPS) on 10/20/20 gave momentum to stock and bounced ATH ( more than 51% in 3 days) All indicators started to show overbought. On monday can make another gap to up (45) (exhaustion gap) and my opinion will be pulled back fib retracement (0,618) $35-36 in short term.
This is not financial advice.
Oh Snap. Snap went up about 50% this week with its RSI hitting 92 on the daily chart; making it one of the most over bought stock on the NYSE.
Look at locations volume has increased. I don’t think the volume justifies the move up it made. The company only saw a 4% increase in usage from last month but that doesn’t justify its price. It could go higher but I am slowly adding puts because when it comes back down to 35 it will come down strong.
SNAP Possible WAVE 3 ending...(weekly charts)waiting for wave 3 to complete and a wave 4 dip to start a position in SNAP
wave 5 target around 51-53
NOT FINANCIAL ADVICE
SNAP ShortSnap entered the overbought level. This is due for a pullback before it proceeds to go back up again. Price is going to respect the RSI indicator. This is the best time to short the stock before going long. Momentum is great but we need a healthy pullback.
Snapchat Stock Analysis - Snapchat stock Prediction - SNAP StockSnapchat Stock Analysis (Week 26/10/20)
The Idea is to go long as per Major trend.
Just wait the end of the price retracement before going long.
SNAP on the brink of going parabolicI believe that SNAP is on the verge of some truly violent price increase. The business itself continues to thrive fundamentally and will only increase in the future.
$SNAP posting Earnings close to its estimates $SNAP posted earning very close to its estimates, with the PEAD projecting a slight bullish sentiment for the stock price,
Currently price is trading on the median line of the Projected PEAD cone
SNAP pullback from gigantic 1 day gain, possible 1.618 FibonacciI won't be surprised if SNAP has a pullback the next 2 days after it's gigantic $8.05 (28.3%) 1 day gain on massive volume 254M shares vs average 44M shares or 500% volume pop. A reasonable scenario would be for SNAP to get to the 1.618 Fibonacci retracement on the monthly chart. Also, because tomorrow is weekly options expiry, I suspect peeps taking huge profit gains today to lock it in before tomorrow's uncertain price action.
