SNAP Channel Support Long SNAP has formed channel up & is testing lower band of channel. If support holds, go long for retest of highs at $26.50.One of my favorite basic strategies is relative performance.
SNAP has been a clear standout since September 3rd (first day of correction) - 
QQQ is down over 12% while SNAP is up over 3% (and at one point up 10%). In this sense I am looking for continued strength from SNAP as an ex-index play - countertrend plays that are not trending with overall market.BTO
SNAP 10/16 $25c avg $.85Note
Please note potential cup & handle possibility (Also potential double top)Note
10/16 $25s were up over 100% today and still holding.Note
Target hit. Calls were closed at $1.80 for over 100% profit
Note
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.