Good buying opportunity for SnapSnap after a bullflag pattern, continued the uptrend. RSI crossed above the 50 mark and the Stochastic RSI crossed in the oversold area above the 200 EMA. That's why I think this is a good buying moment.
1SNAP trade ideas
TrendyTrades: SNAP AnalysisCan we just take a moment to stop and appreciate these beautiful technicals. TrendyChartsAnalysis combines clean charts with accurate technicals.
SNAP - PEG consolidation on VCP pattern (8/16/2021)Consolidation after PEG. Has shown it is holding the gap up and is currently sitting at the bottom 68% of the fixed volume range since PEG. Volume is drying up indicating that seller are getting tired. All KMA are in a uptrend but could use some more time for a consolidation.
Entry: $75ish
Stop: $72ish
Risk: 4%
SNAP Daily BrokeOUT a strong resistance and the SNAP market according to the pitshforks is in an uptrend and probably a pulback before accelerating upwards
DOUBLE BOTTOM reversal 15 min??? $snapdouble bottom reversal on 15 min 30 min or daily displays on all retest of 80 risk break of orange zone??
update on snapchat observation from 8.6.21update on snapchat critical levels broken. game plan shared in previous trading session.
$SNAP double inside week after #earningsSNAP holding the 9 ema on the daily and having a double inside week. if this can get above the 3 week range this should make a nice move.
Long snapchat from identfied levels of resistance.. long 76 strike snap calls into friday, the odds are in our favor...
SNAP Breakout Long (8/5/21)Clean breakout on 4h/daily chart with double bottom forming around support levels. Could definitely retest ATH with volume and as long as major indices hold up, current price target around $79.
Support above the earnings gap up seems to have held up well, wouldn't consider puts/short unless we breach the level with volume.
Snapchat - Keeps surprising!-Social networking company Snap's (NYSE:SNAP) recent second-quarter earnings release was followed by many upgraded 12-month price targets for the stock from analysts. One revised target stretched as high as $110, translating to nearly 50% upside from where the stock is trading today. Furthermore, many of the price target hikes were featured alongside buying or outperform ratings.
-Capturing the company's improved advertising pricing, Snap said in its second-quarter update that its effective cost per 1,000 total ad impressions (eCPM) soared 122% year over year.
-"Rising eCPM relative to the prior year reflects the rapid rise in overall demand, improved optimization capabilities within our auction, a mix shift toward relatively higher eCPM products, as well as a mix shift toward relatively higher eCPM regions such as North America," said Snap CFO Derek Andersen in the company's second-quarter earnings call.
-Snap's trend of rising cost per 1,000 total ad impressions could persist over the next decade, Ju believes. Of course, the catalyst will decelerate from this quarter's triple-digit growth, as the period benefited from an easy year-ago comparison when marketers were holding back some ad spend as businesses navigated uncertain environments.
-Other analysts similarly cited sustainable growth trends in advertising revenue growth. But some also praised the company's ability to grow its daily active users.
-It's not surprising to see so many analysts growing more optimistic about Snap stock. The company's second quarter was truly exceptional. Revenue soared 116% year over year to $982 million, and the company's daily active users increased 23% year over year to 293 million.
-Furthermore, Snap provided very strong guidance. Management said it expects revenue in the third quarter to increase 58% to 60% year over year. This is quite an extraordinary outlook considering it's on top of 52% growth in the year-ago quarter.
$SNAP Upside Potential$SNAP has broken out and bounced off of the breakout area with plenty of volume today. This indicates a large move higher, although I am keeping my target reasonable at the 1.618 level of the shorter timeframe pullback ($83.73). Good Luck!
SNAP 4hr Bull FlagCurrently, SNAP is forming a 4hr Bull Flag.
Entry: 77.50
Stop: 73.40
Profit Target: 85.70
Additionally, SNAP just experienced a breakout to ATH on the weekly chart with strong volume.
$SNAP breaking short term down trend line.I just took and early entry here. My stop is a close below yesterday's low of 71.87. Ideas, not investing / trading advice.
$SNAP shorts. Great earnings. Great company. Very much over valued price. Been on off shorting $SNAP since the earnings report.
-Technical- Technically major gap to be filled, with ongoing pressure in equities I think this can be accomplished. Bulls will give up below 73.
I am short through puts from 75. Will expect a higher volatile move shortly.
Cheers.
