$SNAP$SNAP
$53.5 - 54 a solid candle formation into and above this area would be entry signal with contuining momentum upwards
$58 - 59 area of interest #1 where i believe price could be rejected or held up, regardless approaching that level if trade occurs immediatley take half profits or could take full profits all roll 1/4 or 1/2 of the profits based off reaction of box it gets rejected go puts and if it doesnt go long
$61.5 - 64 area of interest #2 where i believe price will forsure be rejected and short term trend/ the trade will for sure be over i could be wrong and i would love to in this situation but if not manage the trade accordignly
1SNAP trade ideas
SNAP (Crackle) then POP ??I am late of this one.
Nice Gartley Harmonic ( although I would have liked a deeper XA retrace) together with an AB=CD formation.
The oscillator at the bottom has been quite good at calling price strength.
The way I would play this is to wait for the current run to play out then consider a position at point D. (~$51)
Use tight stops if you enter. Expected targets are shown. Don't chase.
As usual do your own DD. Know that this company has and continues operates at a loss.
Earning are in August.
S.
SNAP Resistance Levels SNAP has been trading inside the blue triangle for several months now. Marked on the chart are a few support zones which could serve as resistance in the short term. I'm watching for a retest of ~$58 after SNAP's selloff today. The market reaction across the board today seems to have been fueled by Janet Yellen's comments this morning on increasing interest rates. I do anticipate that growth stocks such as SNAP will be impacted pretty heavily when the Fed begins raising interest rates. However, under the Fed's current loose-money policy, that doesn't seem to be an immediate risk.
Last week we tested the inverted H&S neckline ~$64. Considering the extra volatility surrounding earnings, as well as the support level at ~$33.32, I don't think that today's price drop justifies ruling out the H&S pattern. If buyers return across the market and volume picks up, I think that price could attempt to climb back towards $64. Waiting to see which direction the market takes, with the next importance support zone being the triangle's base ~$48.50.
$SNAP Basing around is 50 MAWhile the setup looks promising. The social media sector been split in half between bearish (Twitter/PINS) and bullish (Facebook/SNAP). Hard to tell who is going to pull who at this point. That said, a daily close above $64 is a good start but I don't see this starting a new uptrend unless that industry is back in full participation.
$SNAP more upside in sightRecent price action is showing that 50% retracement held nicely at a support level.
I´m taking the trade if friday´s high is broken (@63.19).
If recent bottom is breached (@56.43, trade is invalidated (or stop loss if trade had started).
Targets are:
69.96 (1:1 risk/reward)
83.44 (3:1 risk/reward close to 161,8% fib extension)
SNAP Might Snap Out Of Ascending TriangleSNAP is bouncing around an ascending triangle in the daily, 4 hour, and 1 hour timeframes.
There is a good amount of green volume on the daily, which makes me believe their is a good chance of a break out within the coming days/week.
According to the resistance on VPVR, if SNAP can break around the 62.50-63.00, it could reach All Time Highs once again.
SNAP (Snap Inc.) - Bullish Quarter aheadSnap Inc. provides technology and social media services. The Company's principal product Snapchat, is a camera application that helps people to communicate through short videos and images. Snap Inc. is headquartered in Venice, California.
Analysis/Commentary
Strong EPS and Sales Growth Y-on-Y
Based on the study of the previous quarterly earnings reports and subsequent price moves:
- Heiken Ashi chart already indicates further move upward
- Slow and Fast MACD's are neutral at the moment, but I anticipate further push upward over the coming days - get your timing right!
- Expectation for the price to move to MID TARGET over the quarter
- Trailing stop-loss on price above MID point
GOOD LUCK.
DO YOUR OWN RESEARCH!