4SNAP trade ideas
SNAP Possible BreakoutSNAP coiling tight into the apex of the ascending triangle. Solid support along lower trendline and 8 EMA. Breakout could go either way with current market volatility, so playing it safe. My entry will be break of resistance and break of RSI upper trendline.
Decent volume but big OI on the 1/15/21 $55c and $60c.
SNAP - December 12, 2020SNAP has been on an absolute tear in the past month since earnings. Price upgrades and increased user conversions is setting SNAP up well to continue higher into 2021. Still would like to see a dip before entering, and currently holding PINS as a long term holding thus justifying my rational for sitting out.
