$SNAP Testing moving average$SNAP is retesting its breakout of pennant and also testing its 20-day moving average.
A hold here could see a test of $77.
RSI is also showing signs of confirmation as it also is breaking above its trendline.
1SI trade ideas
SNAPCHAT (SNAP) BULLISH DIRECTIONAlready breakout above 70.00, and SNAP might searching for its Support. I'm guessing it already found its support at 71.68 and Buyers might take control next week as Inverse Hammer is shown on Friday.
What do you guys think about this? care to share some thought with me?
Long set-up for SNAP wave 5Beautiful impulse forming on the LTF of SNAP. Wave 3 is done and I would be expecting it to finish a corrective move, either a basic zig zag or a potential triangle which is very typical for waves 4, in between the 382 and the 50 fib. I will be looking at longs towards the algo target very very soon.
Lovely chart ;)
$SNAP Ready for Next Leg HigherSnapchat has been consolidating since its earnings jump, putting in two inside days in the last four days. I believe we'll see the stock head higher again soon on its way to my first target of $89.
SNAP Consolidation above ATHs. SNAP earnings beat. It stayed perfectly above previous ATH. Perfect consolidation above and looks ready for breakout
$SNAP Good entry point after power gap up earningWe were expecting a good entry point on $SNAP after the earning gap up last week.
Today seems OK, still a bit overextended but it is fair enough for us.
Last earning results were amazing. Fund ownership is growing fast.
Now let's see where it goes and let's manage the risk with a smart SL.
SNAP gapped up. Could lead downwards $SNAP Gapped up on the daily chart could see a market correction and come back down to mid 60's
$SNAP with a Bullish outlook following its earnings #Stocks The PEAD projected a Bullish outlook for $SNAP after a Positive under reaction following its earnings release placing the stock in drift C
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SNAP is going to SNAP back to demand!We had a strong move on friday out of the channel as expected.
Now expect a retracement over the next few weeks down to strong demand below around $65.
SNAP Patterns and CircleIdea for Snapchat suggesting a break up through the circle, assuming the triangle formed just below the circle is acting as a flag
A lot of broadening wedges, a cup lacking a handle and a big symmetrical triangle
SNAP - Uncharted Territory BreakoutSNAP
Rst: 81.34
Spp: 74.08
Strong gap up upon earning release, you may be afraid to ride counter that has spike in this way but frankly a stock in uncharted territory, with broadly widened BB, will continue to catch trader’s attention.
SNAP: How to proceed in this post-earnings?Hello traders and investors! Thanks to the earnings report , SNAP is flying today. But how to proceed when this happens? Is it time to buy, to sell, to go short, or just do nothing? The charts will give us an answer.
If you are in SNAP, I always advise to book at least half of your profits in a day like today, just in case, and then set a technical stop-gain . On SNAP, the technical stop-gain is below the $ 73.59, as this point was the previous All-Time High, and it is supposed to work as a support in the future.
In the next week I would just set a trailing stop-gain under the previous day’s low. If SNAP keeps going up, that’s great. If it drops, then ok, time to exit.
Is there any chance that it’ll fill this gap? Yes, but I find this unlikely, at least for now. This is a Breakaway Gap enhanced by the earnings report, and SNAP did a breakout from the ATH by doing this gap (I like to call this Monster Gap ). The last time this happened on SNAP the momentum was so strong that it prevented even a pullback. Let’s remind SNAP on October 2020:
What could happen on SNAP right now, if it can’t keep pushing up, is a sideways correction , until the 21 ema catches up with the price again in a few weeks, to offer us a new support level on SNAP.
If I were out and wanted to buy SNAP, I wouldn’t count on a pullback, but I would wait for it to cool down a little bit more, and for the Risk/Reward ratio to make sense again. If I buy right now, it would feel like I would be buying from someone who bought at the last dip, and will use me to book profits.
Eventually, the 21 ema will get closer to the price, and we’ll see a good opportunity then. For now, as someone who’s out, I’ll just stay out. There are many more interesting stocks around.
Remember to follow me to keep in touch with my daily studies, and if you liked this idea, please, support it!
Have a good weekend!
MARKET ALPHA VIDEO REVIEW - SNAPNYSE:SNAP
Check out my detailed analysis on how I came up with the technicals you see here.
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Snapchat - Great Earnings!-CEO points to highest revenue and user growth rates in four years
-Snap Inc. saw revenue more than double in the latest quarter, easily topping expectations amid a continued rebound in the advertising market.
-Shares were up 18% in after-hours trading after the company posted second-quarter revenue of $982 million, up from $454 million a year earlier and vastly ahead of the $846 million that analysts tracked by FactSet had been projecting.
-The social-media company added 13 million daily average users sequentially in the period, bringing its total to 293 million. The FactSet consensus called for 10 million net additions.
-Snap SNAP, 21.68% cut its losses in half, posting a net loss of $151.6 million, or 10 cents a share, compared with a loss of $326.0 million, or 23 cents a share, a year earlier.
-After adjusting for stock-based compensation and other expenses, Snap surprised with positive earnings per share of 10 cents, whereas it posted a 9-cent loss per share a year earlier. Analysts tracked by FactSet were expecting a 1-cent adjusted loss per share.
-“Our second-quarter results reflect the broad-based strength of our business, as we grew both revenue and daily active users at the highest rates we have achieved in the past four years,” Chief Executive Evan Spiegel said in a statement.
Consolidation , Short at market openingIf this gets over 73.59 , that will be the start of a ATH and a new uptrend. After just 3 months of consolidation i doubt it will do that. Same thing happen back With apple and Amazon at there last earnings back in May. Amazon was up 80$ premarket which put it at the top of consolidation, at the end of the day Amazon finish -70$. Im not saying this +9$ premarket goes Red , im saying that it will not hit a new high and will lose a significant chunk of its earnings.
First target fib support 67.53
If this gets and holds over to 74$ Negate
Lets see
SNAP EARNINGS LEVEL WATCHLISTNYSE:SNAP
Can a great earnings report get through these levels of resistance?
Midweek Watch 7/21 - $SNAP LONGThe 50d, the monthly pivot, and previous low. Lots of confluence there. The quarterly will also catch my eye. IF it never gets down to that level, I’ll also be watching 62.80.
SNAP 2h Chart SNAP is now forming its right shoulder to complete an inverted head & shoulders. If we are able to get confirmation and have it break the white line on the chart - we may see a solid breakout to even new all-time highs. It is trading above the EMA 9 / 21 / 50 / 100 but under the VWAP.
VWAP: 62.01
TP: 63.75 - 65.85 - 68.05 - 70+
SNAP levels for post-earningsSNAP can make a large move out of consolidation with earnings as a catalyst.
Snap Puts August 07th $58 puts looking for a price target target of $53-$52. Breakdown below the icchimoku clouds as well a a parabolic sar as well as sitting below the 200 ma w a macd converegence few days back. Looking real good
long SNAPwatch it play the triangle a bit further before scoping an entry, or simply wait for a high volume breakout.
Target - green box
Stop - red box
not financial advice.
