1SNAP trade ideas
SNAP is out of juice. Target: $50Ok, here me out, it might right out its tops a little longer, but boy is it expensive at this levels. With market fragility recently, this one is at risk of breaking.
Bearish Price Action Near Top of Ascending ChannelWe seem to be having significant bearish reactions every time we hit the top of the channel, It also looks like the RSI is struggling to make higher highs near overbought levels; Pair that with less than stellar earnings and you've got yourself a decent reason to enter a bearish position.
SNAP simple short!expiration of this Friday contract. now it is time to short. Fib retracement, Modified Fork, resistance line and logarithmic fib channel are obvious. we are at the end of impulse elliot wave of today.
It is actually more conservative target than aggressive. Put for next Friday expiration.
Solid performance in a bloody day!In one of the worst days market has experienced since March 2020, SNAP reached its all time high. Technically, this move could go further!
Potential gain:50-55%
Reward/Risk:3
Timeframe: 1-3 months
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This is just my technical view, neither a fundamental comment,nor a recommendation to trade..!
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SNAP: might be time to snap back soon...quick idea:
SNAP has been on an amazing rally - however - I think the time has come for the fun to end. When looking for the most egregious examples of high valuation in the market might now, snap is definitely up there.
After counting waves several times I came to the conclusion that SNAP is like many other tickers on the market near in a fifth wave completion. It is also difficult to ignore the divergence on the MACD that has been building since late October (short term bear div on rsi as well). Divergence can go on for a long time but after five months, almost half a year, it's likely that a correction/significant retrace to previous support levels will happen.
There may be a pop after market open but my guess is a strong sell-off will begin this week.
$SNAP - small repeatable gainsThis is how I have been playing this stock:
Put in limit order for far less than the bottom of the spread.
For example, if bid is $5.50 and ask is $6.00, I put in limit at $4.80 or less.
If it fills, great, if not, no big deal
It filled for the $65 strike on 3 times over the past 2 weeks.
I set a limit sell right away to whatever the buy price + $3.00 and then adjust as the day goes on. This allowed me to book $603 in the last 2 weeks.
Small repeatable gains are working on this stock and on BEAM.
SNAP above highsSnapchat above 65.4 I expect bullish continuation. Once I see how open goes I will likely be entering calls.
Goodluck! Please like/share. Or drop a comment below and we can chat about it
Snapchat to $68 before March 2Snapchat new price target : $68
When: Before March 2nd
Growth: 9.7%
Buy : YES
Trade at your own risks
Breaking out of consolidation ahead of investor dayNice consolidation we've had for the past week. Looking for upside action headed into investor day next week.
Looking to retest all time highs and blue skies from there!
$SNAP$SNAP ran after Earning and started to trade sideways, losing momentum and strength. It tries to break out the time high of $65.42 but failed after several days of attempt. This is a critical point where the price is at the middle Bollinger and oversold. If there's the volume, it could see a $65 range or even break out to a new high. I am looking at the 4H chart (swing trade), and I like that the Doji candle is followed by a green candle with a higher opening (Bull). The other scenario is if this fails below $60, then it will touch support at $55 and $51. It moves +/- $4.00.
Snap Short?Snap looks like it has a lot of gap to fill downwards. That is if it doesn't break out of the trend. Just an idea, new to this haha. Volume also looks like it's slowing down.
$SNAP with a bearish outlook following its earnings #BeststocksThe PEAD projected a bearish outlook for $SNAP after a negative over reaction following its earnings release placing the stock in drift C
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up with volume Snap is up with volume!
entry price is 64.5.
stop price is 61.48.
the target price is 10 percent above current price.
$SNAP - Looking Strong and Long$SNAP - Looking Strong and Long and the trend should continue.
This week we saw some good breakout volume based on earnings and forward guidance.
Also... it always helps when Cathy from ARK makes a purchase.
I'll be looking to add to my position on any pull backs this week.
SNAP, Breakout But ...NYSE:SNAP has breakout today. Next resistance could be around 62-64. But it has earning report on 4th AH. So play if long on this.
Disclaimer: I"m NOT a financial advisor. All trades idea are shared for educational purposes only. All advice is based on technical and my own opinion.
