1SNAP trade ideas
SNAP 2/21/2022SNAP
One of the Covid champions.
Since debuting in 2017, SNAP moved sideways and did a whole lot of nothing.
That was until covid hit.
Price started an uptrend June 2020 where it saw price climb from 19.00 to 79.00 by July. 2021
Price then started to move sideway between 70-79 during July thru 0ct. 2021
Then SNAP was dumped. Price gapped down to 55.00 Oct. 2021 and its been in a downtrend since.
A death cross of 50 and 200 ema occurred further confirming the bearish market.
Price continued to move lower until it reached 28.00
Currently, price has pulled back to 50 ema. Where in the past week we have seen an inverted hammer.
This current pullback is also to fib level 0.50. This is my cue to enter.
Entering trade short
Entry: 38.01
Stop loss: 42.43
Target: 28.44 – 25.14% RR ratio 2.15
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Snapchat Accumulation SchematicThere are many possibilities that could happen here, but it does not matter what occurs since it will all be the same. we are still in a range but the directional bias that i assume is bullish, thus volume should increase on rallies and decrease on reactions. We will most likely see more bullish action after a major low or a ST has been tested.
$SNAP - Failed Double Bottom?NYSE:SNAP
$SNAP appeared to be forming a double bottom, but failed to create higher highs during a very bullish 2 week run for the market. Price could not make higher highs for the month, and just eeked out a higher high on the week before failing.
For me, price needs to break $41 to consider going long.
Options flow has seen increased bearish flow.
SNAP: Snap back to reality, whoop there goes gravityThe stock has been performing terribly since the Earnings Report of october last year as investors pulled out. It got too extended to the down side and bounced back to touch the 50 SMA and i believe this is a good entry (40.00) for a short down to 32.11 (20%) with a large stop of 48.00 (-20%)
SNAP is the NEW FBas consumers reject FB from around the world, this leaves SNAP to pick up the pieces. SNAP is growing earnings double digits and is accepted by a younger audience whereas FB is left for by moms and pops...Brands are moving away from FB and looking at alternatives like TikTok and FB.
SNAP has huge growth potential, it has yet to crack Asia and entire Europe...
SNAP LONGSnapchat going long because of:
- Snap is almost oversold on hour, 4 hour, and day time frame.
- Snapchat outstanding Earnings and Revenue the 3rd of February 2022.
-This started an upward trend that was quickly stopped by the 50 MA around the 16th of February.
-Even after this rejection supertrend still showing bullish trend (only with heiken ashi candles) . I'm predicting it will test the 50 MA again and maybe break
it by the end of next week.
- Bought an option contract for a call option that expired March 18th. (DO NOT COPY IM A BEGINNER)
I'm a noob so give me criticism.
My first post :)
NYSE:SNAP
SNAP: Going to $13 Snapchat looks like it will be in a corrective phase for the next year. It may be worth a swing trade at $20, where the longterm support trend line lies, but longterm it should test the $13 range which coincides with an open gap and the .786 retracement of this larger degree 3rd wave.
$SNAP - Gap Down Slam DunkSnapchat has probably peaked in terms of its popularity.
Yes- a lot of us use the app. Including myself. But what do they really do that is hard to replicate?
All of that aside, technical analysis says this stock is overpriced.
Bearish double top. Massive gap down below that has already broken. I originally meant to share this last week.
It has also lost both major moving averages at 100 and 200 day MA's. This should be a fun short to play right now.
I have been in this play and expect it to move to around $27 or lower.
SNAP Range - Is Upside Still Possible?SNAP bounced from support @ $35.15. Price is attempting to break above the 20 MA (30 min. timeframe), as well as the descending channel, before it can target the upper range again @ $41. If the bottom support of this range ($35) doesn't hold, there is a pretty large gap to be filled down to $26.