SNAP trade ideas
SNAP IN LAST WAVE RUN UP! BULL!Looks like it still needs to run up another wave until I'm bearish. Elliot wave theory!
SNAP - Target $63.00Snap is still looking to run and I am bullish, it broke the 58-60 Supply Zone and closed above $60.05. I sold a few positions I bought before market closed yesterday to lock in some profits. I plan on swinging and holding the rest until my target of $63.00 is reached.
Will SNAP snap it's 3 day winning streak tomorrow?Will SNAP snap it's 3 day winning streak tomorrow?
R3 = $64.02
R2 = $61.59
R1 = $59.28
pivot = $57.10
S1 = $54.91
S2 = $52.60
S3 = $50.29
Do your own due diligence, your risk is 100% your responsibility. This is for educational and entertainment purposes only. You win some or you learn some. Consider being charitable with some of your profit to help humankind. Good luck and happy trading friends...
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7pt Trading compass:
Price action, entry/exit
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Trend, patterns, momentum
Newsworthy current events
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Lack of planning & discipline
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SNAPGood afternoon.
Perfect regular flat Elliott correction wave. I got in a little too early but I managed to recover. I expect more upside as we approach earnings. Long call SNAP 05/21/21 70 C.
If you like what you see why not support us?
👇
SNAP: should we snap it up?The outlook of SNAP seems bullish in the coming weeks if the indicated support line holds. The recent retracement looks corrective and near completion. Potential targets are highlighted on the long side but please note the bearish alternatives and potential reversal/correction areas. Good Luck and have fun trading!
Please note: the bar pattern to the right side of the current price is only imaginary and gives no guarantee on future PA behavior.
$SNAPIf $SNAP can break the 58/60 supply zone, it can hit $64.00, I entered a swing position today before the market closed.
Snapchat stock analysisA re-test of the previous resistance level gives and the continuation of the path in the descending channel according to the proposed levels to new levels
SNAP Analysis $SNAP | #Analysis
Price Target 60.68 🎯
Bump & Run Reversal ✅
Trend Reversal ✅
Break above Supply with Increasing Momentum ✅
Entry on Break of 55.80 with Confirmation ✅
Invalidated below 51.64 ❌
SNAP support bounceBeautiful weekly close on SNAP, excepting a bounce here if tech holds up into next week.
Snap --> Snap it hereSnap has been under the control of bears since past 2 weeks, it has dropped by approx. 30 percent in recent sell off. I am very bullish on snap. It has shown good revenues and is one of the greatest competitor of Facebook. It is now sitting on a very strong support. It is a weekly support as well.
I believe that this is a very good entry point, or if a better safe trade will be a put credit spread. Indicator showing divergence and i believe it is ready to rise
Ideas is for entertainment. Not a trading advice. Trade at your own risk
Let's Chat About Snapchat Here goes post number 3.
SNAP seems to have found support at the 48-ish area, as it bounced up higher. The fib retracements and support/resistance lines seem to match up here. On April 1, price closed at let's call it 54.50. We should have expected this because of the fib retracement and the resistance line.
Diving a bit deeper and going into lower timeframes, we see that price is consolidating at this area and buyers and sellers seem to be in balance with price staying in a 2.0-ish dollar range (between 53 and 55).
Will price go up or down? No one can predict where Mr. Market will go. However, here is what I see. On the daily timeframe MACD is looking to cross, and on the 4 hour time frame MACD has already crossed. Both of these are bullish signs. But, a downtrend began on February 24 making lower highs and lower lows, which are bearish signs. These conflict, so we must be patient and let Mr. Market tell us what he wants to do.
If price holds the area previously mentioned (53 to 55) and goes higher, price could go to 60-ish. If price breaks lower it could retest our previous support area at around 48.
SNAP 4/1Strong 5% move on higher volume today...saw resistance at 100 dailyMA
If SNAP can break 53 , short term PTs are 55.20, 58.13, 61.
SNAP BULLISH TO 65+SNAP bounced cleanly off of daily demand again and is making its way back to daily supply as charted above. Expect lots of resistance in the red shaded areas as these are the supply zones.
My positions:
4/16 55c, 5/21 60c
Let me know what you think!
$SNAP BULLI like the look of SNAP here at these levels. Buying $53 Calls for next week. 1.60 average price. Looking for 55+
SnapchatMission:
Snap Inc. is a camera company.
We believe that reinventing the camera represents our greatest opportunity to improve the way people live and communicate.
We contribute to human progress by empowering people to express themselves, live in the moment, learn about the world, and have fun together.
Recent News:
1. With a mosaic of communication tools, the Snapchat Generation believes they can help change the world. Over half (53%) believe they have the power to make social changes and contribute to activist movements using social platforms.9 Their fierce dedication to activism extends beyond social platforms as they vote with their dollars by engaging with and purchasing from brands that support their values.
2. The Snapchat Generation represents a new kind of shopper, one willing to immerse themselves in stories and experiences, and use the latest tech to their advantage. As a group, Snapchatters hold a whopping $4.4 trillion in global spending power.6 They’re willing to outspend non-Snapchatters on common purchases across every retail and service category. They consider big and small brands in equal measure. 1 in 2 say they like to learn the backstory of brands and products they buy.7 And they’re 3X more likely than non-Snapchatters to say they’re using AR more than they did last year to try on products.8 Brands that craft compelling narratives and cutting-edge experiences can forge a strong connection with this generation.
3. "2020 was a really strong year for us and we are thrilled with the momentum we're seeing. We reached more than 60 million users in India in Q4 20, with strengthening growth throughout the year, and see our community engaging across all parts of Snapchat -- from chatting to Discover content, using our Camera and getting creative with Lens Studio," Murugesan said.
He added that augmented reality (AR) is revolutionising how people communicate, are entertained, learn and experience the world.
Source: Snapchat newsroom
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