Snap, Sneaking UpOne of may favourite tech stocks in recent years. Feels like an strong (dare I say explosive) move coming if it clears $62.70-62.80.
Now: $62.05
Temporary failure below: $58.80
1SNAP trade ideas
Bull Trap in SNAPWhy do I believe this could be a Bull Trap?
If you look at the previous times SNAP reached this level (upper border of the wedge), always got rejected and could not close above the upper border of the wedge!
In the past 5 days price climbing up but the volume dropping!
Makes it a good case for short!
The only problem is Max Pain:
58-59 for this and next week!
$SNAP Bouncing off Channel Top, Bullish With Snapchat having a selloff the previous day, I thought it was a healthy pullback after having nearly a 13% move in a few days, the top of the channel has acted as support and more buyers have entered which will push this higher to $65-$70 level, path of least resistance. Working out amazingly!
$SNAP Update - Looking for Support Snapchat cleared through its channel range the other day, topping nearly $61, a pullback today seems healthy with an almost 7% move the previous day. What I am looking for next is some support on top of this ascending triangle, if price can hold above approximately $58.50 for the week, I think it will give traders yet another opportunity to enter for a move towards $70. Watch tomorrow as the closing candle green will give this further strength in the near term.
$SNAP Approaching ResistanceSnap Inc. shares saw strong growth today and are nearing a very important resistance level. If this level breaks, $SNAP could potentially be headed much higher, which is probably the favorable outcome here, but there is a possibility that this resistance level will hold and we will need to consolidate a little more before breaking out to the upside. Like and follow for more :) Good Luck!
$SNAP Breaking Up?I just opened a 'very early" position in $SNAP. I like how the KMA's are acting and the fact that it seems to have broken the downtrend line. It looks like there is going to be resistance in the $62 to $63 area which is probably a safer entry point. However, I like my risk level here as I can run a very tight stop. Note on Chart. Ideas, not investing / trading advice.
Symmetrical TriangleLooks to be breaking to the upside.
No recommendation.
A symmetrical triangle is a chart pattern characterized by two converging trend lines connecting a series of sequential peaks and troughs. These trend lines should be converging at a roughly equal slope, with one sloping down and the bottom line sloping up.
The lower line of the triangle, or lower trendline, can be thought of as the demand line, which represents support on the chart. At this point, the buyers of the issue outpace the sellers, and the stock's price begins to rise. The top line is resistance until price breaks the upper trendline.
Throwbacks do happen frequently, and sometimes a symmetrical triangle will break to the downside, before turning around only to break the top trendline.
$SNAP Update - Position Up 12%, Important Price Level & Paths An update on Snapchat from last week, we have now reached the top of the bullish pennant formation, an important level to see where the market wants to bring this in the short term. Currently sitting on the top of the pennant, representing a resistance level, watch closely today and tomorrow to see where traders want to bring this. There are two path predictions I have for the short term, a green candle closing above this pennant would give me confidence for a breakout towards $70. The second path would indicate if the top of this channel acts as resistance, meaning the market would continue to consolidate within the channel and attempt to breakout at a later date.
An answer for where this will go will likely be answered by the close tomorrow.
SNAP - LongReally nice set up on here on SNAP. You have a triangle pattern on the daily with a nice bounce off the lows. Upper trendline meets the golden pocket retracement. Low risk entry here with a potential move up to the $60-62 range, with a clear stop on a break of the lower trendline around $51.
SNAP movementI expect a bear regression trend, following up with some ne bull opportunities.
Let´s be patient, there might be come the next run.
Key levels are 50$ then 44$
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$SNAP$SNAP
$53.5 - 54 a solid candle formation into and above this area would be entry signal with contuining momentum upwards
$58 - 59 area of interest #1 where i believe price could be rejected or held up, regardless approaching that level if trade occurs immediatley take half profits or could take full profits all roll 1/4 or 1/2 of the profits based off reaction of box it gets rejected go puts and if it doesnt go long
$61.5 - 64 area of interest #2 where i believe price will forsure be rejected and short term trend/ the trade will for sure be over i could be wrong and i would love to in this situation but if not manage the trade accordignly
SNAP (Crackle) then POP ??I am late of this one.
Nice Gartley Harmonic ( although I would have liked a deeper XA retrace) together with an AB=CD formation.
The oscillator at the bottom has been quite good at calling price strength.
The way I would play this is to wait for the current run to play out then consider a position at point D. (~$51)
Use tight stops if you enter. Expected targets are shown. Don't chase.
As usual do your own DD. Know that this company has and continues operates at a loss.
Earning are in August.
S.
