1SI trade ideas
SNAP still not profitable | Buy areaIf you missed last Friday`s 28usd price per share, close to the 2017 IPO opening price of $24, then, after a bounce from the oversold area, once interest rates will go higher, i think we can still see it in the 18-25usd range.
SNAP is still unprofitable 4 year after its IPO.
It is trading at 19.5 times its 2020 revenue.
A worthy multiple would be let`s say 9-10 times revenue.
Looking forward to read your opinion about it.
SNAP - Short term bullish Snap had an ugly distribution pattern and an Island Top at the 70-80 price few weeks back and its been selling ever since, with last 3 weeks the selling had accelerated in momentum reaching the importing level of 28-30, closing a long due gap.
That level should provide enough support for a bounce back at 40 level, towards the 50 Daily EMA. I believe SNAP price is so oversold short-term, that bulls will be looking at ER for an excuse to send this up for the next few weeks.
First important level is at 35 next is at 40
SNAPCHAT We waiting the price go to 20.00 and when up to 25.00 that's point for entry, so we have some target and set it one by one .
Every target we can get our profit or wait price up to 80.00 the last target !
Bearish on $SNAPWith Apple's rules for advertising on mobile apps (mentioned in their last 10Q) and growing competition in the space, especially from Tik Tok -- $SNAP is a fairly high conviction short for me. $47B market cap and still not profitable. $831 million loss through September and now we are in a bearish market for tech...
Disclosure: Long February 18 28P
SNAP - seems like a perfect buy x5Wave 4 may be complete, based on fibo proportions and trend channels.
All EW guidelines are met for the trend to continue in the fifth wave.
Let us see.
Snap Inc. -- Bullish Wolfe Wave Detected UPSIDE -- $SNAPWe are in wave 5 of bullish Wolfe Wave. Wait for re-entry into triangle, which is confirmation, to purchase.
$SNAP - Approaching the Disastrous GapThe $SNAP chart looks horrifying. It's quickly approaching the downside gap, which is nearly 20% wide.
Based on overnight futures action, this is a prime short candidate leading into tomorrow.
Share actionWait for it for best entrance, between two white lines you can enter but wait for price action and suitable entrance value
SNAP, 14 Jan. The End is your Friend.Snapchat has lost -54% from the highs in September, but there are signs of a (local) reversal. Let's see if we can pick up SNAP here.
Geometry:
Connecting the tops we can draw a channel. The median is confirmed by price action. SNAP approaches the bottom of the channel where we can expect a potential bounce. The green trend line gives an element of confluence.
Elliott:
We are able to count an unfolding ABC with wave v (in green) to be completed. The 38.2% fib level is below at $34.
Oscillators:
Stoch is oversold and due to move up. RSI has been in the oversold since Oct. and could retrace.
How to trade it:
The area between the 38.2 fib and the channel bottom gives us a good risk-reward ratio to speculate on a reversal. Because the area is large (34-37) we may choose our entry based on a candlestick pattern (reversal doji) or slingshot method, to have evidence of bulls stepping back in. Below 33 the idea is likely invalidated.
SNAP - some downside before the fifth wave upI expect more weakness until price tags $31 to complete a flat pattern (h4).
This will be the fibo level for the wave 4 as well as the median of the base channel (left chart)
Good luck!
looking for a small push higher 👀snap stuck in this bearish channel, but it is bouncing off rsi + trend support. My conservative price target is 45.87, if it breaks resistance instead of getting rejected again we can look for a rally to 53.87-61.10
like and follow for more 💘
$SNAP channel support breakdown or bounce$SNAP still trading in the channel. Struggling at the GZ extension but bounced Thursday off trendline support/786 confluence. Puts below 40 PT 39.5, 38.5, 37.5, Calls over 43.5 PT 45.5, 45, 46.5.
$SNAP Levels/AnalysisBreakout zones:
$42.08
$40.79
Bull PTs:
$43.62
$44.78
$46.36
$48.07
Bear PTs:
$39.40
$38.33
$37.01
Gap at:
$34.53
$29.15
Snap long this looks like a good place to start accumulating SNAP. bottoming off a long term trendline forming a morning star on the daily (hopefully today closes above 42.75 area), We are seeing bullish divergences on multiple timeframes and have multiple patterns telling us to look for a reverse. Furthermore, we are starting to see activity in the ticker. I would like to see momentum continue to gear up as well as seeing this thing base over 43.30-43.38 area. looking for 53.17- 56.85. have other pt sooner than that for scaling. This is not financial advice
SNAP continuing to sell (pt. 2)SNAP has developed a bearing megaphone, so expect a big drop below. First target is $38, then expect a gap fill at $28.
SNAP long biasedSna seems to be bottoming here alot of bullish divergences happening. want it to base above thee 114 and even the 236 in order to take it long. Let it accumulate here and let momentum come back into the stock in order to take the trade
Not financial advice
SNAP to continue sellingSNAP may have hype on it's side for it's participation in the Metaverse, but SNAP earnings reveal a darker story. Negative earnings have been a key factor in this stocks recent declines. With no net gains in income, investors are bailing out until they see a light at the end of the tunnel. I recently deleted my Snapchat account due to Instagram's new TikTok add-on , so I have a little bit of a bias on the short comings of this stock. However, being bias, I would like to think I am backing this belief with at least some foundational analysis. SNAP has a gap to fill and I like to believe most gaps presenting themselves on the daily chart will eventually get filled. That being said, I have SNAP falling to 39 first which would bring the stock down to 1.618 fib retracement level, then to fill the gap further falling to 29 which is the 2.618 fib retracement level, before any BUY consideration will be made.
Not financial advice
Happy trading
