SNAP 🌦Identified a bear flag a few weeks ago told my discord server to get out of SNAP because I knew it was forming a bear flag. The market is overvalued and the SPX500 is due for a correction (drop of 10%). Whats more Banks are raising money through bonds which is essentially a confirmation that something big is coming. Some brokers are starting to increase margin requirements for several meme stocks, notably GME and AMC. Banks don't sell bonds for no reason folks. These are all signs that something big is coming.
1SNAP trade ideas
SNAP SHORT TO $50I wish I caught this easy play last week but IMO its not too late at all!
SNAP is following this descending triangle and SNAP bounced off the trendline which is pushing it on its way down back to daily demand, which is between $51-49.
I would consider this before going long on SNAP and maybe also consider scooping long plays off of demand when it gets there.
Look for a break of 56.80 to confirm downward trend
Look for 5/21 or 6/18 50p
Snap Inc Before Earnings Snap Inc. is expected to report earnings on Tuesday after market close.
The report will be for the fiscal Quarter ending Mar 2021 .
Right now we have small pullback before the earnings , snap reach to 65$ and created double top .
Between 60$ - 65$ channel we can see very strong resistance (double top) ,there we have the downtrend Fib 50%-61.8% from Feb.
we may see pullback until uptrend Fib that located at 64$ - 67$ channel , Ema's 20 / 50 act as Support in the short term , If the price will go down to this levels and pushing up with good Support that will be Entry 1
If the price go above 65$ this will be Entry 2
T1 - 67$
T2 - 71$
T3 - 74$
T4 - 77$
* There is no buy / sell recommendation in the aforesaid ,
SNAP Q1 earnings today at 4:10pmSNAP Q1 earnings are today at 4:10pm. Snap (SNAP) reported Q4 December 2020 earnings of $0.07 per share on revenue of $911.3 million. The consensus earnings estimate was $0.07 per share on revenue of $846 million. Revenue grew 62.5% on a year-over-year basis. The company said it expects Q1 revenue of $720 million to $740 million. The current consensus revenue estimate is $742.04 million for Q1 ending March 31, 2021.
Q1 March 2021 Consensus:
EPS = ($0.05)
Revenue = $742 M
R3 = $68.38
R2 = $65.97
R1 = $63.39
pivot = $60.98
S1 = $58.57
S2 = $56.00
S3 = $53.75
Do your own due diligence, your risk is 100% your responsibility. This is for educational and entertainment purposes only. You win some or you learn some. Consider being charitable with some of your profit to help humankind. Good luck and happy trading friends...
*3x lucky 7s of trading*
7pt Trading compass:
Price action, entry/exit
Volume average/direction
Trend, patterns, momentum
Newsworthy current events
Revenue
Earnings
Balance sheet
7 Common mistakes:
+5% portfolio trades, capital risk management
Beware of analysts motives
Emotions & Opinions
FOMO : bad timing
Lack of planning & discipline
Forgetting restraint
Obdurate repetitive errors, no adaptation
7 Important tools:
Trading View app!, Brokerage UI
Accurate indicators & settings
Wide screen monitor/s
Trading log (pencil & graph paper)
Big organized desk
Reading books, playing chess
Sorted watch-list
Checkout my indicators:
Fibonacci VIP - volume
Fibonacci MA7 - price
pi RSI - trend momentum
TTC - trend channel
AlertiT - notification
www.tradingview.com
SNAP is going downPotential expanded flat Elliott correction wave bear flag formation on SNAP. Resistance at the 0.618 level. Earnings in 5 days I expect SNAP to drop further as we approach the announcement date. I'm not buying puts due to IV crush. Bear call spread (call credit spread) is more suitable for this pattern. Let me know what you think.
If you like what you see why not support us?
👇
$SNAP Bullish Unusual Options Activity$SNAP Bullish Unusual Options Activity
$37M of May 7th exp ITM calls bought today
Monitor for a close above $64. Note earnings coming next week - 4/22 after hours.
Near term target: $70-$74 range by end of April
Note: This is NOT investment advice. Educational only.
Will SNAP snap it's 3 day winning streak tomorrow?Will SNAP snap it's 3 day winning streak tomorrow?
R3 = $64.02
R2 = $61.59
R1 = $59.28
pivot = $57.10
S1 = $54.91
S2 = $52.60
S3 = $50.29
Do your own due diligence, your risk is 100% your responsibility. This is for educational and entertainment purposes only. You win some or you learn some. Consider being charitable with some of your profit to help humankind. Good luck and happy trading friends...
*3x lucky 7s of trading*
7pt Trading compass:
Price action, entry/exit
Volume average/direction
Trend, patterns, momentum
Newsworthy current events
Revenue
Earnings
Balance sheet
7 Common mistakes:
+5% portfolio trades, capital risk management
Beware of analysts motives
Emotions & Opinions
FOMO : bad timing
Lack of planning & discipline
Forgetting restraint
Obdurate repetitive errors, no adaptation
7 Important tools:
Trading View app!, Brokerage UI
Accurate indicators & settings
Wide screen monitor/s
Trading log (pencil & graph paper)
Big organized desk
Reading books, playing chess
Sorted watch-list
Checkout my indicators:
Fibonacci VIP - volume
Fibonacci MA7 - price
pi RSI - trend momentum
TTC - trend channel
AlertiT - notification
www.tradingview.com
SNAP: should we snap it up?The outlook of SNAP seems bullish in the coming weeks if the indicated support line holds. The recent retracement looks corrective and near completion. Potential targets are highlighted on the long side but please note the bearish alternatives and potential reversal/correction areas. Good Luck and have fun trading!
Please note: the bar pattern to the right side of the current price is only imaginary and gives no guarantee on future PA behavior.