SNAP trade ideas
SNAP reaching a parallel channel resistance Hello friends,
Snap is almost reaching parallel channel resistance around 46.50 - 47.50 , good area to take profit and wait for a breakout.
SNAP bull flag breakout after a Power Earnings Gap-Power Earnings Gap
-Huge volume on the right side
-Quiet volume as it pulls back + consolidates (just needs a little push of demand)
-Beat earnings - triple digit earnings, double digit sales
Setup Grade: 'A' Tier
Daily evolution of Snapchat
At the moment Snapchat is on a good uptrend, keep the buy position and sell it only when it breaks the yellow line
Daily evolution of NetflixAt the moment Netflix is on a good uptrend, keep the buy position and sell it only when it breaks the yellow line
Nice Setup for SNAP: LongAccumulation at this level and up-trending EMA & AVWAP.
Once break up, may fly.
Bullish FlagSnap seems to have bullish flag on the daily chart. Will look into buying in into snap. Volume is decreasing as the flag continues.
Snapchat stock analyses hello traders,
weeks ago snap chat after correction, he had a highly a very strong bullish trad, but what was the reason?
we have a very high volume in all snapsht history and that explained the high bullish , but why it didnt continue?
now as indicators shows we are now in correction, but will it continue in bullish trade, we dont think so as we have probability of 60% that the next days we will have bearish trad.
snap trendsnap is a good opportunity to invest since its gonna go up to 54$ and stop loss should be under 35.
11/01/2020 ( 2 days before election)
Double Top For SNAP? After a crazy earnings beat run up of more than 50%, SNAP has shown a double top at around $43. If SNAP breaks under the supports at $40 and $38, I would call it a confirmed double top. As for how low it will fall after that, only time will tell.
This is not financial advice. Be aware of your own risks. I am not responsible for your gains or losses.
SNAP run-up dying offSnap had a steep run-up. If it does not get more buying volume it will consilidate until it breaks support at 41 down to 40 then once 40 breaks down it can possibly give back 50% of the runup. There is a big volume gap so it can possibly continue down until it hits $28.
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''
