Snapchat down 25% BEFORE earnings?! Facebook strikes again?!25% is insane for a company to fall in one day on ANOTHER company's news. Holy wow. Call it the "Facebook Effect", and it may be responsible for destroying the market like a cancer.
4SNAP trade ideas
SNAP eyes on $22.90 going into earnings: SnapChat to Do-or-DieAssets have many Impulses in a lifetime, but only one "Genesis" Fib.
Genesis as in "inception", programmed with all of the DNA it will ever have.
That Impulse predetermines the "Growth Layers" that an asset must follow.
$ 22.90 is the next Golden fib, whose sisters above were clearly reactive.
$ 20.26 and 18.63 are Semi-Major ratios before the next Golden fib 15.99
$ 34.07 above will be the key resistance if we get a "good" earnings report.
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I do not use "Fibs" in the "traditional" manner (retracements).
I use Fibs to plot "Ripples" (extensions) created by "Impulses".
Then look for "Confluences" to map the "interference Pattern".
My TV collection of ideas detailing the Concepts:
Chapter 1: Introduction and numerous Examples
Chapter 2: Detailed views and Wave Analysis
Chapter 3: The Dreaded 9.618: Murderer of Moves
Chapter 4: Impulse Redux: Return to Birth place
Chapter 5: Golden Growth: Parabolic Expansions
Chapter 6: Give me a ping Vasili: 'one' Ping only
Chapter 7: The Mighty 2.618: like a Rook in Chess
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Snap long this looks like a good place to start accumulating SNAP. bottoming off a long term trendline forming a morning star on the daily (hopefully today closes above 42.75 area), We are seeing bullish divergences on multiple timeframes and have multiple patterns telling us to look for a reverse. Furthermore, we are starting to see activity in the ticker. I would like to see momentum continue to gear up as well as seeing this thing base over 43.30-43.38 area. looking for 53.17- 56.85. have other pt sooner than that for scaling. This is not financial advice
SNAP still not profitable | Buy areaIf you missed last Friday`s 28usd price per share, close to the 2017 IPO opening price of $24, then, after a bounce from the oversold area, once interest rates will go higher, i think we can still see it in the 18-25usd range.
SNAP is still unprofitable 4 year after its IPO.
It is trading at 19.5 times its 2020 revenue.
A worthy multiple would be let`s say 9-10 times revenue.
Looking forward to read your opinion about it.
SNAP - Short term bullish Snap had an ugly distribution pattern and an Island Top at the 70-80 price few weeks back and its been selling ever since, with last 3 weeks the selling had accelerated in momentum reaching the importing level of 28-30, closing a long due gap.
That level should provide enough support for a bounce back at 40 level, towards the 50 Daily EMA. I believe SNAP price is so oversold short-term, that bulls will be looking at ER for an excuse to send this up for the next few weeks.
First important level is at 35 next is at 40
Bearish on $SNAPWith Apple's rules for advertising on mobile apps (mentioned in their last 10Q) and growing competition in the space, especially from Tik Tok -- $SNAP is a fairly high conviction short for me. $47B market cap and still not profitable. $831 million loss through September and now we are in a bearish market for tech...
Disclosure: Long February 18 28P
SNAP, 14 Jan. The End is your Friend.Snapchat has lost -54% from the highs in September, but there are signs of a (local) reversal. Let's see if we can pick up SNAP here.
Geometry:
Connecting the tops we can draw a channel. The median is confirmed by price action. SNAP approaches the bottom of the channel where we can expect a potential bounce. The green trend line gives an element of confluence.
Elliott:
We are able to count an unfolding ABC with wave v (in green) to be completed. The 38.2% fib level is below at $34.
Oscillators:
Stoch is oversold and due to move up. RSI has been in the oversold since Oct. and could retrace.
How to trade it:
The area between the 38.2 fib and the channel bottom gives us a good risk-reward ratio to speculate on a reversal. Because the area is large (34-37) we may choose our entry based on a candlestick pattern (reversal doji) or slingshot method, to have evidence of bulls stepping back in. Below 33 the idea is likely invalidated.
