SNAP to 26$SNAP PT upgraded by Wall Street analyst to $28... waiting for breakout of this ascending triangle! also another stock to add shares for long term portfolio
S2NA34 trade ideas
DAX analysis of SNAPHi friends
the daily chart of this market shows with a strong probability an uptrend in the coming days but it is also necessary to be vigilant of the change towards the opposite direction
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$SNAP Channel Support Long $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 $.85
First ChartThis is the first charting I have ever done. Looks like Snapchat is forming a cup and handle.
$SNAP on way to All Time High
Perfect Bull-Flag breakout underway.
Potential target for today $26.76
with sights on the All Time High in the not
to distant future.
Volume increasing
RSi has room to run
Rallying despite the Nasdaq, S&P 500, Dow Jones correction #3Double top or nice breakout
Which one will occur?! Well, time will tell us, but we can look for the signs.
If it gets above 26.87 with HUGE volume, it is a good indication for a longer rally.
If the resistance will be strong enough than a double top will develop.
potential downtrend? Seems like its staying within the channel. if it breaks support then it will mean a downtrend. MACD looking bearish to me.
SNAP PT $28 or $19Market likes to create symmetry. Depending on which wave you think we are on, SNAP should either be making its way up to $28 or heading down to around $19 which is a major level of support. waiting for market action is a crucial part of this. For some reason, I anticipate this to not be the end of this insane run up before we crash.
$SNAP Downtrend Continues - Bearish Options Activity$SNAP Downtrend Continues - Unusual Bearish Options Activity
Expecting one more leg down in this recent downtrend.
Unusual Bearish Options Activity Today:
30k $21.00 strike (OTM) November 20th puts traded today vs open interest <200 for a total premium outlay of $4.1M
Near term target: $20.00 by mid October
Stop loss: $25.00
Targets for SNAPSNAP has fallen below is bullish channel and is now on a downward trajectory. I have listed several possible supports to look out for as we head into October. There will be a lot of selling going on in the next few weeks, so you can't go wrong shorting a lot of things.
oh SNAP...is that a reverse H&S or are you just happy to see me?Looking at SNAP it's been gaining some steam in the past months, Seeing more than 200% gains off the March lows. Not only that, but arch-rival FB has been in hot water all year and there's concern about their business being broken up to prevent monopolistic practices. Is this an opportunity for SNAP? Is this an opportunity for you?
With that being said, a strange and exciting pattern has formed in this chart. What's more, is the potential impulse wave that is forming on the chart and the steady volume to go with it!
Now the Risk to Reward setup here really depends on your how much you are willing to lose to bet on some gains on a breakout? Depending on your time range, you could make a quick buck and then keep some SNAP for the new 3rd wave cycle that could then form if we do reach new All-Time Highs (ATH).
BUT... if we are dreaming through our SNAP spectacles again, then we could be willing to take up to a 25% loss to gain 30-40% and then have a nice set up for a larger swing trade.
I'm already in this one ever since the 4 Tech Titans were on the hot seat in front of Congress. After making this chart I might want more. What do you say?
