4SNAP trade ideas
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?
SNAP- The StratLast week was busy for me. Didn't trade a lot, maybe broke even or lost a little. Here is a trade I made this morning. Have a negative P/L with SNAP so been trying to take it back! This one was a win. Added more as we fell.
$SNAP Possible bullish move targeting 29-30 current 24.19Prior to next earning report $SNAP showed positive move on Friday targeting ATH at 26.76 if break it out then will be targeting area between 29-30 before or after earning report. RSI and MFI are about to confirm the signal. to be watched on Monday closely. stoploss for current bullish move between 20-21
Snapchat monthlyQuite simple, here. The SNAP monthly chart is a gigantic print of an inverse head& shoulders and should it trigger with a monthly close above the $24.50 level, that could a highlight a pivot indicating a bullish path ahead. Full disclosure: I have a starter in SNAP calls dated Jan 2021 and Jan 2022.
SNAP Wave CountI really like the setup with this one. Will monitor for a pullback and maybe get invested and ride it to the 1.618 fib level.
Snap back to your gap ASAP1. possible inverted cup & handle formation
2. check insider selling
3. 33b? for an app with 0 with a big Z, competitive advantage
4. Fundamentals out of the question
$SNAP falling wedge continuationLooks like a good risk/reward play.
Long term support has held in a falling wedge after a run up from its March lows.
I will start scaling in to long term calls.
Double bottom formedIf it continues to run higher, then taking a position might be rewarding.
But wait for confirmation, it can be a false break-out.
A retest and then high volume run-up is a good sign for going long.
