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SNAP; Will We Be Screenshoting this Long Play?✨ We provide charts every day ✨ Like and Follow to help us grow family! 🎉 --- Let's go family! Breakaway Scalper moves have worked well recently. We are currently looking for a long signal entry from Breakaway Scalper (Green bar color) if the uptrend from Fractal Trend can continue to stay strong and confirmed (Green background). --- STRATEGY USED:Momentum Mover Trend Confirmation = Fractal Trend Entry Signal = Breakaway Scalper Exit Signal = Breakaway Scalper OR Orderblock Mapping --- 1. Fractal Trend is showing an uptrend (Green background color) for SNAP on the 1 hour chart. 2. Price has broken above the channel and is now consolidating on top of it. 3. We are currently looking for a long signal entry from Breakaway Scalper (Green bar color) if the uptrend from Fractal Trend can continue to stay strong and confirmed. 5. If we do get a breakout to the upside will be looking to see how price reacts at R1 - R3 resistance. 6. If we go lower we will look for reactions at S1 and S2 support.
NYSE:SNAP
by AlphaBotSystem
Daily Review: ZM, SNAP and SPYToday, U.S. markets ended flat despite starting off the session on a positive note. Although the close was bearish, could there be a bullish case hidden? Let's see what we can find assessing ZM, SNAP, and SPY. Bull Market in the Cards? We begin today with possibly the strongest performing stock of the day, Zoom. As you can see, Zoom is obliterating its previous high. The Momentum is clearly behind Zoom and on RSI, you could see that Zoom has respected its RSI 'bull market' support level. There is no denying Zoom can continue to push new highs as long as its product is in demand. With second and even third waves of COVID-19 possible. Is it impossible to think a vast majority of the Global workforce works from home? Still, I would be cautious buying these levels. Bias: Bullish . I won't lie, I am not a fan of Snapchat and I'll will save my reasons for another day. However, the chart though...wow. Full disclosure, I missed this one. I should have posted yesterday warning not to buy just yet, but if you hadn't picked it up by now my bias is bullish. The SNAP chart has two BIG things going with it. First, the obvious 151-week inverse head and shoulder. The measured target of which is $35. The second is that we have a clear Elliott wave 1 and 2 established as seen by the count. The wave 2 especially, retraced into the 0.618 fibonacci, a popular retracement level. In combination with expanding volume, SNAP could be in the beginning of the strongest wave, 3. First target is around $40. Overall, there is not very much to dislike about the SNAP chart. Bias: Bullish . Uncertainty Despite the market going on an unprecedented rally off the March lows there is a reason to be concerned going into the weekend. Today, the markets did not follow through on a promising start to the morning. I mentioned yesterday that I would be a buyer of the dip. Today, I am not so certain I would be anymore. Above is the weekly view of the SPY. This week it is turning out to be an inside bar, trading within the high and low of the previous week. What's that tell me? Uncertainty. It's no surprise. With States deliberating the next steps on how to handle the re-opening of the their economies there is uncertainty and caution abound. Bulls should do the same. Not shown here, but on the daily charts of the major indexes, the first lower highs have been established. Bias: Bearish . Just over 30% off the lows, it is not ill conceived that the markets pull back a bit here (or a lot). Tomorrow's weekly close will provide a lot of insight on how to trade next week. I will review Ethereum and Bitcoin going into the weekend, as I do suspect some trickery to take place while futures markets are closed over the weekend.
AMEX:SPY
by DailyClose
7
THE WEEK AHEAD: SNAP, NFLX, IBM EARNINGS; /ZC, /CLEARNINGS: IBM (63/54) announces Monday after market close. SNAP (92/102) announces Tuesday after market close. NFLX (66/70) announces Tuesday after market close. EXCHANGE-TRADED FUNDS ORDERED BY IMPLIED VOLATILITY RANK/PERCENTILE SCREENED FOR RANK >50/IMPLIED >35%: XLU (77/47) GDXJ (77/84) GDX (67/65) SLV (66/45) TQQQ (63/111) USO (62/112) XLE (59/70) EWW (58/54) EWZ (53/69) XOP (59/91) BROAD MARKET EXCHANGE-TRADED FUNDS ORDERED BY IMPLIED VOLATILITY RANK/PERCENTILE: IWM (72/54) QQQ (47/38) SPY (45/28) EFA (44/31) EEM (41/36) FUTURES ORDERED BY IMPLIED VOLATILITY RANK/PERCENTILE: /ES (44/40) /NQ (47/39) /YM (51/13) /RTY 72/53 /CL (62/130) /NG (94/71) /GC (67/27) /SI (66/43) /ZC (57/28) /ZS (33/17) /ZW (27/31) Notes: Pictured here is a /ZC August 21st 310/330 long call vertical, currently trading at 11.25 with a break even at 321.25 versus 321 spot. Ideally, you'd want to put this on with at least make one/risk one metrics, which would occur if the spread priced out at 10.00 even or below. /ZC is tantalizingly close to those August 2016 lows at 310 '06 ... . Another future worth mentioning here: /CL. As I write this post, the May contract is currently trading at multi-year lows at 15.09, with the June contract trading at 23.66. May drops off this week with the question being how low the June contract will go. I continue to look to sell puts on weakness in the active contract at or below $20. VIX/VIX DERIVATIVES: VIX finished the week at 38.15 with the /VX term structure in backwardation.
CBOT:ZC1!
by NaughtyPines
BTC pierced above the 7238 USD VPVR level! Will it close above?Bullish Scenario playing out in my Apr 06 post in my previous on-going analysis updates . Note: as explained in a prior published idea, the current ascending channel is drawn as such base on my personal trading preference to ignore the initial equilibration “ringing” after a massive sudden move. I believe it tends to be wise to wait awhile before a clear new market structure form after the previous market structure has been broken. Previous stances ( posted here ): QUOTE: (Apr 05) Right now I am actually neutral in the short term, so long as the red 21 EMA holds. I will only be bearish if the green 50 SMA fails to hold. The PRISM oscillators indicates a bearish bias atm, however the Snap Oscillator and the AJ-ribbon are only gently sloped downwards, which could also mean a relatively sideways movement, with a very slight drop (perhaps to retest the 50 SMA) before rebounding. Right now, I am actually slightly and cautiously bullish into the longer-term base on the current market trend. But similarly, for me to become truly bullish, the price will need to break up above the yellow ascending channel, and to clear the 7238 USD VPVR resistance as well and retest it as support. (Apr 06) The fact that the Sell signal have been triggered on the Cyber Ensemble suggests that it will be difficult for the price to successfully break up higher this time round as well. And if that is the case, the price will likely come back down; and may very likely break below the red 21 EMA, as well as the green 50 SMA with the failed attempt by the bulls -- with the immediate bearish price target of 6100 USD at the bottom of the ascending channel drawn, and hopefully closing and supported above the orange 200 SMA. Setting stop-loss at the 6612 USD VPVR level just below the green 50 SMA to lock in profits accumulated so far just in case. (Apr 06) If the price falls and closes below even the orange 200 SMA, then BTC will likely follow through with a break down below the yellow ascending channel, marking the start of a more significant and perhaps violent downtrend. However, as per the above latest chart posted, the AJ-Ribbon looks to be in a strong upward swing, which will likely pull momentum back up into the positive. This is in conjunction with the main P-Oscillator looking to cross the 21 VWMA really soon as well! I'm cautious slightly biased to the bullish case atm now, but will wait and observe which condition is fulfilled before making my next move. (Apr 06) BTC had now successfully closed above the yellow ascending channel. Switching to 4hrly chart where the Cyber Ensemble and PRISM Signals indicators have now have better confluence with the price action, indicating a reduction in volatility. The bullish/bearish scenarios as described above are as shown. Moving up to the higher 6hrly timeframe: The AEONDRIFT bands (stdev bands -- similar to the well known Bollinger Bands) have drastically narrowed, indicating reduced volatility; and a possible significant move incoming. 6hrly chart (zoomed out):
BITSTAMP:BTCUSD
by cybernetwork
9
$SNAP long term playWith schools closing nationwide in the US and other countries (although $SNAP) isn't as big international (86% USA usage), the average user per day should increase from 218mil last quarter as well as monthly active users clocked in at 360mil the previous quarter. Last quarter (4q 2019) revenue doubled in advertising so the company was already gaining traction in the demand market for advertisers; expect that number to increase or at least hold. The drop off at these prices show a good risk/reward ratio. Snap has lost 50% of its market value in the past 3 1/2 months, there is a lot of room for upside especially with a likely increase in users and revenue.
NYSE:SNAPLong
by levi.stern95