Snaplong
SNAP - WEEKLY BULLISH DIVERGENCE - LOOKS GOODSnapchat stock looks good now.
The price creates higher lows.
Weekly bullish divergences are not a joke. We expect SNAP to give 285 % gains in a long-term.
Targets / Take profit areas are shown on the chart.
SNAP is down 90 % from its ATH. It's not a time to be bearish . DCA into SNAP and enjoy the profit on the way up.
We may see a pullback to retest the previous low or to create one more higher low before getting stronger momentum. However, there is a chance that the weekly bullish divergence plays out soon and we won't see lower prices.
Good luck
SNAP Stock Exhibits Classic Head and Shoulders Pattern on 1-WeekIn a revealing development for traders, SNAP stock has formed a distinct head and shoulders pattern over a 1-week timeframe. This classic chart formation, often indicative of a potential trend reversal, suggests that investors should brace for possible changes in the stock’s trajectory. With the pattern now complete, market watchers will be closely monitoring SNAP’s next moves.
SNAP 160 % or more upside expectedWe expect SNAP to drop 15 % more from current prices.
-It will be a good entry for long as it will correspond with a low from March 2020.
-Target show in the chart. We expect the gap to get filled.
-Stop loss shown in the chart.
Snapchat is undervalued at those levels. Good buy also for a long-term hold.
SNAP DAILY WOLFE WAVEAnother daily wolfe wave setup was triggered post midterms. The chart for SNAP is closing in on a few gaps left open after the earnings debacle. With tax losses and Christmas rally into end of year, we should see most of the small caps rally and accelerate into Feb 2023. The apex and projection target lines can be used to estimate when price and time will meet in the future by extending a vertical line connecting the two points in space. Based on the position of the apex, the price of SNAP is projected to reach $15 or higher (200 day ma) by Dec 29, 2022.
Snap: More pain before relief?!!Snap
Short Term - We look to Buy at 13.20 (stop at 10.72)
This stock has recently been in the news headlines. The CEO reported the company will likely miss its own revenue and earnings targets. Broken out of the triangle formation to the downside. The measured move target is 13.00. We expect further downside to the measured move target zone. We therefore, prefer to fade into the dip at that zone with a tight stop in anticipation of a move back higher.
Our profit targets will be 21.98 and 24.00
Resistance: 18.00 / 22.00 / 30.00
Support: 13.00 / 10.00 / 5.00
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$SNAP Bullish 📈Snapchat is looking really bullish.
It has currently formed a descending wedge and has 2 gaps to fill that are both in a very similar position and to the upside.
We are also well below our previous trading range so I believe we should be back testing the support of that range as a new resistance in no time.
Will be looking to add a long position on the break of the wedge,
$SNAP hitting a massive support! Great BUY for a LONG $SNAP hitting a very big trendline support + blue zone support and RSI support!
I can count around 7 clear bounces off these support zones, chances are this will be the 8th!
stop loss 49 - price targets 62.2/69.4
LET GET IT!
-Not Financial Advice-
$SNAP Snap stock plunged Friday after the social-networking firm posted disappointing revenue growth and guidance that fell shy of estimates on Thursday.
The parent of Snapchat said its advertising revenue was hurt more than expected by Apple ‘s change in the rules surrounding advertising on mobile apps.
The miss weighed heavy on shares of other major social-media companies.
Snap (ticker: SNAP) stock was down 25% in Friday trading. Facebook (FB) was down 6% on the news, while Twitter (TWTR) was off 5%, Pinterest (PINS) had fallen 4.4%, and Alphabet (GOOGL) had slipped 3.4%. Snap is the first of the companies to report September quarter results.
For the third quarter, Snap posted revenue of $1.067 billion, up 57% from a year ago, and below the company’s guidance range of $1.07 billion to $1.085 billion. Adjusted Ebitda, or earnings before interest, taxes, depreciation, and amortization, was $174 million, well above its guidance range of $110 million to $120 million. On a non-GAAP basis, the company earned 17 cents a share in the quarter, beating the Street consensus of 8 cents a share.
The company said it grew daily average users in the quarter by more than 20% to 306 million.
SNAP Might Snap Out Of Ascending TriangleSNAP is bouncing around an ascending triangle in the daily, 4 hour, and 1 hour timeframes.
There is a good amount of green volume on the daily, which makes me believe their is a good chance of a break out within the coming days/week.
According to the resistance on VPVR, if SNAP can break around the 62.50-63.00, it could reach All Time Highs once again.