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Snapchat

My quick thoughts on Snapchat before earningsThis is one of those stocks that I have always watched and the price action is pretty impressive. It STILL has not taken out its IPO-day highs and it's gone through years or harsh drawdowns followed by v-shaped recoveries. It is has not been an easy stock to hold for anyone long-term. With that being said, I marked some important levels such as the Volume Profile most significant point of shares traded on a weekly basis since its IPO. I also marked its IPO day highs. For the bulls to take this to the moon and gain complete control, it seems something has to happen on the fundamental side: positive and growing free cash flow. That means they can continue at their existing rate and reinvest in the company. If not, well, I think it could drop back to the 20s or teens.
NYSE:SNAP
by scheplick
1
SNAPCHAT ($SNAP) 👻 | Why Snap is More Tempting than a Cinnabon🐋 ALERT! The SNAP bulls have been giving bears no leeway recently. Not only does the chart look great as SNAP has capitalized on the lockdown, but Snapchat has also been busy improving its ad space and moving to compete with other big tech like Apple and Google (for example with Snapchat's foray into AR). Let's take a look at some levels to see if SNAP can keep popping off. Hit that 👍 button to show support for the content and help us grow 🐣 Support: The S1 S/R flip and S2 orderblock are both equally notable to SNAP bulls. A bounce at or between any of these levels would be a show of strength from the bulls. While the bulls have the S3 SR flip at the major price pivot point on their side, a test of S3 breaks the bullish market structure and thus makes this level somewhat unattractive at this point (if we get there, we'll have to see how price reacts). Resistance: The first point of resistance for the bulls is the R1 orderblock at the failed swing high and S/R flip. It would make sense for us to be rejected here while price consolidates. This would help SNAP to avoid becoming overextended. The R2 orderblock at the failed swing high range comes into play if R1 is breached. While there are other notable levels higher to discuss if we get there, first things first, a move off of R2 to consolidate onto of R1 first is a perfect move for the bulls to signal continuation higher. Here is a chart showing where these levels are coming from: Summary: SNAP's chart looks great, there is a clear path for the bulls if they want to keep this up. Since that is the case, we expect something similar to what is noted on our chart to play out. Meanwhile, we would be skeptical of any price action that didn't at least interact with our levels. After-all, running too hard and too fast could leave SNAP overextended, while not interacting with support would show real weakness. Resources: www.theguardian.com + www.searchenginejournal.com
NYSE:SNAP
by AlphaBotSystem
SNAP: A Technical Approach to Snapchat 1W (Jun. 05)X Force Global Analysis: Snapchat had its IPO at $17, and started trading at $24 a share. In this analysis, we take a technical approach to SNAP, and explore its bullish probabilities. Analysis - The first thing we notice is a massive reverse head and shoulders pattern on the weekly chart - It could be said that we are currently in the middle of forming the right shoulder - Within the right shoulder, we have another reverse head and shoulders pattern - The smaller pattern should be interpreted as a bullish continuation pattern, having completed the head - The Relative Strength Index is closer to overbought levels, and the Moving Average Convergence Divergence (MACD) also shows decreasing momentum - Another leg down to complete the right shoulder is necessary for the completion of this pattern - Combining this with Elliott Wave counts, it could be said that we are seeing an Impulse Wave (12345), starting at the bottom of the smaller head - A break and close above the neckline would confirm a bullish rally What We Believe It's important to note that this analysis is a purely technical approach to the stock. Based on certain confirmations of the reverse head and shoulders pattern, we could expect a bullish rally for the long term. Trade Safe.
NYSE:SNAPLong
by XForceGlobal
Is Snap Ready to Pop? 👻 | SNAPCHAT ($SNAP)👻 SNAP just had a breakout, it has also generally been a good play during COVID, and it has some exciting news too with SNAP opening up their platform to outside developers for the first time. What we are looking for here is a long setup off a retest of this major price pivot point. Resource: www.theinformation.com ✨ Drop a comment asking for an update, we do NEW setups every day! ✨ Like, Comment & Follow to help the community grow 🎉🎉 --- 1. Fractal Trend is showing an uptrend (Aqua colored bars) on the 3-hour timeframe. This uptrend has been true for a while now and is especially notable now that we have a breakout of the previous range. 2. With this strategy, we are looking for long setups in an uptrend and as such want to enter long on retests of bullish order blocks plotted by Orderblock Mapping (Aqua colored lines) and/or bullish S/R levels plotted by Directional Bias (Aqua colored lines). 3. The goal here is to take a long position at the S1 bullish S/R flip. This level represents SNAP retesting the previous range highs (which are themselves a reaction to the range lows back in March) before moving up. 4. Our stop loss is placed just below S1, with the logic being that if previous resistance doesn't hold as support that immediate continuation to the upside becomes very unlikely. 5. Our target is the R2 bearish orderblock cluster and gap formed back in March during the top at that point. 6. If S1 doesn't hold, then S2 and S3 offer support levels for the bulls. S2 may be able to keep the uptrend in play, while the S3 expected S/R flip is simply an important level to watch if we get there. Let's snap some cash bulls!
NYSE:SNAP
by AlphaBotSystem