SNAP Analysis $SNAP | #Analysis
Price Target 60.68 🎯
Bump & Run Reversal ✅
Trend Reversal ✅
Break above Supply with Increasing Momentum ✅
Entry on Break of 55.80 with Confirmation ✅
Invalidated below 51.64 ❌
1SNAP trade ideas
SNAP support bounceBeautiful weekly close on SNAP, excepting a bounce here if tech holds up into next week.
Snap --> Snap it hereSnap has been under the control of bears since past 2 weeks, it has dropped by approx. 30 percent in recent sell off. I am very bullish on snap. It has shown good revenues and is one of the greatest competitor of Facebook. It is now sitting on a very strong support. It is a weekly support as well.
I believe that this is a very good entry point, or if a better safe trade will be a put credit spread. Indicator showing divergence and i believe it is ready to rise
Ideas is for entertainment. Not a trading advice. Trade at your own risk
Let's Chat About Snapchat Here goes post number 3.
SNAP seems to have found support at the 48-ish area, as it bounced up higher. The fib retracements and support/resistance lines seem to match up here. On April 1, price closed at let's call it 54.50. We should have expected this because of the fib retracement and the resistance line.
Diving a bit deeper and going into lower timeframes, we see that price is consolidating at this area and buyers and sellers seem to be in balance with price staying in a 2.0-ish dollar range (between 53 and 55).
Will price go up or down? No one can predict where Mr. Market will go. However, here is what I see. On the daily timeframe MACD is looking to cross, and on the 4 hour time frame MACD has already crossed. Both of these are bullish signs. But, a downtrend began on February 24 making lower highs and lower lows, which are bearish signs. These conflict, so we must be patient and let Mr. Market tell us what he wants to do.
If price holds the area previously mentioned (53 to 55) and goes higher, price could go to 60-ish. If price breaks lower it could retest our previous support area at around 48.
SNAP 4/1Strong 5% move on higher volume today...saw resistance at 100 dailyMA
If SNAP can break 53 , short term PTs are 55.20, 58.13, 61.
SNAP BULLISH TO 65+SNAP bounced cleanly off of daily demand again and is making its way back to daily supply as charted above. Expect lots of resistance in the red shaded areas as these are the supply zones.
My positions:
4/16 55c, 5/21 60c
Let me know what you think!
$SNAP BULLI like the look of SNAP here at these levels. Buying $53 Calls for next week. 1.60 average price. Looking for 55+
SnapchatMission:
Snap Inc. is a camera company.
We believe that reinventing the camera represents our greatest opportunity to improve the way people live and communicate.
We contribute to human progress by empowering people to express themselves, live in the moment, learn about the world, and have fun together.
Recent News:
1. With a mosaic of communication tools, the Snapchat Generation believes they can help change the world. Over half (53%) believe they have the power to make social changes and contribute to activist movements using social platforms.9 Their fierce dedication to activism extends beyond social platforms as they vote with their dollars by engaging with and purchasing from brands that support their values.
2. The Snapchat Generation represents a new kind of shopper, one willing to immerse themselves in stories and experiences, and use the latest tech to their advantage. As a group, Snapchatters hold a whopping $4.4 trillion in global spending power.6 They’re willing to outspend non-Snapchatters on common purchases across every retail and service category. They consider big and small brands in equal measure. 1 in 2 say they like to learn the backstory of brands and products they buy.7 And they’re 3X more likely than non-Snapchatters to say they’re using AR more than they did last year to try on products.8 Brands that craft compelling narratives and cutting-edge experiences can forge a strong connection with this generation.
3. "2020 was a really strong year for us and we are thrilled with the momentum we're seeing. We reached more than 60 million users in India in Q4 20, with strengthening growth throughout the year, and see our community engaging across all parts of Snapchat -- from chatting to Discover content, using our Camera and getting creative with Lens Studio," Murugesan said.
He added that augmented reality (AR) is revolutionising how people communicate, are entertained, learn and experience the world.
Source: Snapchat newsroom
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SNAP - 2 countsA couple of bullish (eventually) counts for this US stock. Both counts suggest the same outcome though and present a bullish outlook for this stock.
Snap Finding Support at $49 Purchased a couple $49 Call options for the end of the week...looking to bounce off of the support here at $49 to touch the green target zone ~$54.50.
SNAP Calls Weekly Play!Snap About to Break Channel Up here
Tight stop loss @ $50.80
Bulls want it to $55 this week
SNAP in a bear flag? Potential bearish flag forming on SNAP. Volume also declining on flag.
Keep on you radar
SNAP must hold the line!The bear flag hit our price target perfectly, so perhaps the worst is over.
Historically we've had some serious support at $49, so we should be able to stay above this level.
If we break the support level and then break down from the falling wedge, then we can expect to fall further toward the 200d MA.
If we stay within the falling wedge, we can remain bullish.
SNAPPretty sick price action lately for those watching it how I was. False breakdown of the black trendline to a false breakout of the blue trendline. Not surprised it got smacked hard today after all that. Probably goes lower.
SNAP -another chance to snap some upSNAP's trendline support is still valid. It bounced off this support on 8 March, swung up from 52 to 65 (forming a mini swing AB) before retracing almost all the way test near the trendline again today. After a scary start to the day (when SNAP was down more than 6%) , buying support came right near the trendline and recovered to form a bullish pin bar. It sure looked like SNAP's "supporters" have been eyeing to stake around this trendline!
Still bullish on SNAP as long as this trendline is not breached. Current stop loss will be 53.90, slightly below trendline.
Disclaimer: This is just my own analysis and opinion for discussion and is not a trade advice. Kindly do your own due diligence and trade according to your own risk tolerance. Thank you. Feel free to give me your thoughts ! :)
SNAP time to see how it reacts in the 55 areaCheck during the day an entry pattern in the 1H Chart
Target price: 70
Expected return: 25%
$SNAPThis is simply overvalued, it needs to come down to $27-ish. I might sound crazy but thats what the chart telling me. If the market decides to correct then, you know where to buy. Dont expect it to happen overnight but it will get there.
Trade Safe.
P.S. Let me know what you think.
