potential downtrend? Seems like its staying within the channel. if it breaks support then it will mean a downtrend. MACD looking bearish to me. by Dc13921
SNAP PT $28 or $19Market likes to create symmetry. Depending on which wave you think we are on, SNAP should either be making its way up to $28 or heading down to around $19 which is a major level of support. waiting for market action is a crucial part of this. For some reason, I anticipate this to not be the end of this insane run up before we crash.by ncontelmo3
$SNAP Downtrend Continues - Bearish Options Activity$SNAP Downtrend Continues - Unusual Bearish Options Activity Expecting one more leg down in this recent downtrend. Unusual Bearish Options Activity Today: 30k $21.00 strike (OTM) November 20th puts traded today vs open interest <200 for a total premium outlay of $4.1M Near term target: $20.00 by mid October Stop loss: $25.00Shortby Triple_Barrel_Capital225
Targets for SNAPSNAP has fallen below is bullish channel and is now on a downward trajectory. I have listed several possible supports to look out for as we head into October. There will be a lot of selling going on in the next few weeks, so you can't go wrong shorting a lot of things.Shortby FiboTrader11
oh SNAP...is that a reverse H&S or are you just happy to see me?Looking at SNAP it's been gaining some steam in the past months, Seeing more than 200% gains off the March lows. Not only that, but arch-rival FB has been in hot water all year and there's concern about their business being broken up to prevent monopolistic practices. Is this an opportunity for SNAP? Is this an opportunity for you? With that being said, a strange and exciting pattern has formed in this chart. What's more, is the potential impulse wave that is forming on the chart and the steady volume to go with it! Now the Risk to Reward setup here really depends on your how much you are willing to lose to bet on some gains on a breakout? Depending on your time range, you could make a quick buck and then keep some SNAP for the new 3rd wave cycle that could then form if we do reach new All-Time Highs (ATH). BUT... if we are dreaming through our SNAP spectacles again, then we could be willing to take up to a 25% loss to gain 30-40% and then have a nice set up for a larger swing trade. I'm already in this one ever since the 4 Tech Titans were on the hot seat in front of Congress. After making this chart I might want more. What do you say?Longby Shadowfigure5
SNAP- The StratLast week was busy for me. Didn't trade a lot, maybe broke even or lost a little. Here is a trade I made this morning. Have a negative P/L with SNAP so been trying to take it back! This one was a win. Added more as we fell. Shortby Ken_Adam4
$SNAP Possible bullish move targeting 29-30 current 24.19Prior to next earning report $SNAP showed positive move on Friday targeting ATH at 26.76 if break it out then will be targeting area between 29-30 before or after earning report. RSI and MFI are about to confirm the signal. to be watched on Monday closely. stoploss for current bullish move between 20-21Longby WinnerTrader99Updated 3
Snapchat monthlyQuite simple, here. The SNAP monthly chart is a gigantic print of an inverse head& shoulders and should it trigger with a monthly close above the $24.50 level, that could a highlight a pivot indicating a bullish path ahead. Full disclosure: I have a starter in SNAP calls dated Jan 2021 and Jan 2022. Longby wtardie112
SNAP Wave CountI really like the setup with this one. Will monitor for a pullback and maybe get invested and ride it to the 1.618 fib level. Longby robbysloss0
Snap back to your gap ASAP1. possible inverted cup & handle formation 2. check insider selling 3. 33b? for an app with 0 with a big Z, competitive advantage 4. Fundamentals out of the questionShortby Philoslother0
$SNAP falling wedge continuationLooks like a good risk/reward play. Long term support has held in a falling wedge after a run up from its March lows. I will start scaling in to long term calls. Longby zachyamUpdated 0
Double bottom formedIf it continues to run higher, then taking a position might be rewarding. But wait for confirmation, it can be a false break-out. A retest and then high volume run-up is a good sign for going long.by benedekdomotor0
SNAP - 18.81% Potential Profit - Descending TriangleThis will most likely be a short-term play. Descending Triangle formed after a 4-month rally. Resistance confirmed multiple times yesterday on the 5-min chart. We have two targets, set at a new potential support line. - 1-Month Downtrend - RSI and STOCH below 50 - MACD below Signal Suggested Entry $20.69 Suggested Stop Loss $21.25 Target price $19.61 + $16.55 Note that I tend to adjust stop losses in order to secure profits early and preserve capital. This means that the target price is going to be achieved as long as there are no strong pullbacks that trigger my new adjusted stop loss.Shortby mascheraUpdated 4
SNAP to $24-26SNAP just bounced off a nice support line of $20.66 created a channel at $22.33, retested 20.66 and bounced off. That is a strong indication of a reversal back to the upside. I would like to see SNAP really pull away from the small bearish flag that could be developing. If that happens we can easily see $24.05 which is a resistance line. Once broken, we have resistance at $26.73 and ATH at $28.23. Failing to break this bear flag could send SNAP back down to $19by ncontelmo2
SNAP bounce off support, possible break through resistanceBouncing off support nicely...possible break through resistance at around 24-25 Stop loss : 20.5 (not financial advice) Longby RWD230
SNAP updatewe cashed out half our long position in SNAP and kept a half for a possible upside. i was going to close the remaining position but checking the chart - it seems i'll hold for now. here's why. - this week started bad for SNAP with a relatively big drop, the good news is, there was no follow thru from sellers and bulls took over the rest of the week with 4 positive (UTO barscore) days - also on the daily chart, SNAP is attempting to breach out of the declining channel and trade within a range - a good sign that can point to a possible breakout if we get enough demand coming in. - the weekly chart shows an end of a distribution cycle, and a possible return to demand mode. it is possible to expect a similar breakout to what happened in November 2019 (see weekly chart) Price projection: i don't have a target in mind at this time - maybe in the next update. the current decision based on this week's analysis is to hold instead of completely closing - i'll be happy if we get to the IPO level and see what happens next. Longby RedKTrader3
$SNAP Potential Bull-Flag Breakout Possible Bullflag break imminent. RSi seems to have bottomed and in reversal. MACD bullish cross. Volume increasing. Potential targets short term $23.00 - $24.50 PLEASE GIVE US A LIKE IF YOU FIND OUR CONTENT HELPFUL, THANK YOU.Longby Bullishcharts33
SNAP ReAccumulation?SNAP has had an incredible run into earnings and obviously profits have been taken off the table. It is trading below the pivot range for August and has been sold pretty heavily at previous Month's Close price. With a Key LVN arounf 20.30. and a narrow developing pivot range for September I'm watching for a failed new low into the LVN as a possible long candidate. There are 130000 OI contacts in 21C 16 OCT 20 I'm watching for an accumulation zone which may explain the narrow range around 21 in the common. No trade yet. Lets watch for an entry.by OPZee223