Long on Snap

Updated
Good day on today's stock pick we had a re-enter on SNAP. We believe the company is currently undervalued and despite it's terrible earnings report, we still believe the company has a long term value and in worst case scenario to be bought over by META with the attempt to expand their monopoly on the App space.

Position:
- Entry 1: $10.73
- Entry 2 (Buy Limit) : $9.75
- Entry 3 (Buy Limit) : $7.89
- SL: $9.25
- TP 1: $13.75
- TP 2 : $23

RR:
- 2.45

Reward:
- 0,30 %
- 31.4 PIP’s
- 3.01$

Risk:
- 0,20%
- 12.8PIP’s
- 1.53$

Confluence’s:
1. 3 consecutive bullish weekly candles
2. Weekly order-block on 16 March 2020
3. Low Intrinsic value
4. Clean 4h break and retest on order-block as above mentioned.
5. Huge gap to be filled between 21st and 22nd July 2022

Trade active
Candlestick AnalysisFundamental AnalysisportfolioStocksTrend Analysis

Also on:

Disclaimer