Fallling Wedge VS Inverse Head and Shoulders $SNAPThere are two scenarios following a very good earnings report. I believe a falling wedge is more likely, but if the guidance comes out low again, I see an inverse head and shoulder case. In any case, the price of NYSE:SNAP is currently at a low and its current real value is $10. Buying right now is a fantastic time to stock up on stocks. The chart says it, and the future will tell us.
1SNAP trade ideas
SNAP Options Ahead of EarningsIf you haven`t sold SNAP here:
or ahead of the previous earnings:
Then analyzing the options chain and the chart patterns of SNAP prior to the earnings report this week,
I would consider purchasing the 11usd strike price Calls with
an expiration date of 2023-11-17,
for a premium of approximately $0.60.
If these options prove to be profitable prior to the earnings release, I would sell at least half of them.
Looking forward to read your opinion about it.
SNAP - No Longer Ghosting 👻Hello TradingView Family / Fellow Traders. This is Richard, also known as theSignalyst.
📦 NYSE:SNAP has been confined within a range for nearly a year , indicating a significant accumulation phase.
📈 For bullish momentum to prevail, a decisive break above the upper boundary at 14.0 is crucial.
In such a scenario, the Markup phase would initiate, propelling the price towards the 30.0 mark.
🏹 Meanwhile, SNAP is expected to consolidate. As it nears the lower bound at 10.0 once again, we will be actively searching for new short-term buy setups.
📚 Always follow your trading plan regarding entry, risk management, and trade management.
Good luck!
All Strategies Are Good; If Managed Properly!
~Rich
$SNAP Future CUP and HANDLE going to $20-25 BEFORE EARNINGA cup and handle is a bullish technical price pattern that appears in the shape of a handled cup on a price chart.
You will see NYSE:SNAP going up to $20 or more before earning on February 2024.
Plus, we expect good earning again due to
- Amazon Deal : Snapchat allow users to directly purchase amazon products on Snapchat
- Tiktok Ban: Earlier this year, Congress appeared to be on the cusp of passing a TikTok ban. Just the concern, users and creators will move to Snapchat.
- Ad-free subscription plan: Snapchat is testing a new ad-free subscription tier. New monetization
- Less expenses & restructuring : Snap has laid off nearly 20 product managers.
SNAP Potential bearish reversal. MACD to confirm the sell. Snap Inc (SNAP) has been on a strong rise since the September 26 Low. Technically since the October 21 2022 market bottom, the stock has been trading within a wide Rectangle pattern, with the majority of its price action observed within the (blue) High Volatility Zone consisting of the 0.236 - 0.618 Fibonacci range. The price is currently on the 0.236 Fib.
Every 1D MACD Bearish Cross above the 0.00 mark, following a rally that started with a Bullish Cross below 0.00, has been a great sell opportunity. Our target is exactly on the 0.618 Fib at 9.85 (the bottom of the High Volatility Zone), which will also make a perfect contact with the (green) Ichimoku Cloud. Notice the harmonic trend of the Ichimoku Cloud within this long-term Rectangle. Every decline tends to hit it.
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Snap Stock Jumps On Reports Of Purchasing In Snap Via AMZ.Snap stock is rising Tuesday on reports the company has a deal to allow users to directly purchase Amazon (AMZN) products on Snapchat. The deal for Snap (SNAP) follows a similar agreement between Amazon and Facebook parent Meta (META).
The agreement will allow Snap users to buy Amazon products they see advertised on Snapchat directly through the app. The arrangement was first reported late Monday by The Information.
Snap stock is up 9% at 12.34 in recent action on the stock market today.
Amazon Collaborates With Snap
Amazon confirmed details of the arrangement to Reuters. Snap users will be able to see real-time pricing, Prime eligibility, delivery estimates and product details on select Amazon product ads within Snapchat.
The deal is similar to one struck between Amazon and Snap's larger rival, Meta. Users on Meta's Instagram and Facebook will also be able to shop Amazon directly on each app after linking their accounts.
Snap Stock: Sales Bouncing Back
Snap, meanwhile, is coming off its first quarter this year with year-over-year sales growth. The company reported a 5% revenue increase for the third-quarter.
Price Momentum
SNAP is trading near the top of its 52-week range and above its 200-day simple moving average.
What does this mean?
Investors have been pushing the share price higher, and the stock still appears to have upward momentum. This is a positive sign for the stock's future value.
SNAP is forming a long term baseNYSE:SNAP is unfolding mutiple "inverse head & shoulder" formation, this is goin to be veyr choppy and complex near term action; regardsless it is determin to travel higher to close the gap at $12.35 which intersect with an up trend line resistance and over head trend channel resistance; the near ter bullish momnetum fuel by positive daily MACD and rising momentum; awaiting 100 days SMA & 200 days EMA bullish crossover "GOLDEN cross" which is not likely to happen for another several weeks depending on how it peform towards $12.35 target. Given such pattern, personally i will mobilized 20% of my intended capital to go long at at the market for test of $12.35, two consecutive weekly close above latter to futher deploy additional 20% of my capital,keeping balance 60% for potential pullback towards $7.30, in case i am wrong and it launches towards $21.66 i have 40% dont need to #fomo, worst case scenario after i bought i started to tank i still have 60% to buy more: so either direction i am happy; up is great, down is good!
Snap: Is the Nightmare Finally Ending?Snap has struggled since growth stocks started crumbling two years ago, but now some traders may see chances of a recovery.
The first pattern on today’s chart is the potential basing pattern that began in August. Its bottom was slightly above the May trough. That could suggest that selling pressure is waning in the social-media stock.
Second are the pair of high-volume candles on October 16 and 25. The first came after The Verge reported that SNAP was setting ambitious internal targets for monetization and engagement. The second followed better-than-expected quarterly results.
At that time, investors were nervous about global tensions hurting growth. But if those worries fade, traders could target the third pattern: a large bearish gap that followed weak quarterly results in July.
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Snap Stock Surges More Than 11% After Earnings BeatSnap (SNAP) reported its third quarter earnings Tuesday after the bell, beating estimates of the top and bottom lines and suggesting that more growth for the social messaging company may be on the horizon.
These earnings beats were a much-needed win. Snap, owner of Snapchat, has become representative of the malaise that can affect an advertising-dependent tech company. The business has struggled since the launch of Apple's (AAPL) App Transparency Tracking, and was sent reeling by a digital advertising slowdown that's only just picking up again.
Many of Snap's plans for its future — for example, its repeated efforts to make mainstream AR glasses — have yet to fully take. The company this year released its own AI chatbot, My AI, but its rollout has reportedly raised fears among parents concerned for their children's safety.
In its earnings release, Snap revealed that over 200 million people have used My AI, sending more than 20 billion messages. It has also signed up 5 million people for its premium subscription Snapchat+, adding a potential annual income of more than $200 million.
“We are focused on improving our advertising platform to drive higher return on investment for our advertising partners, and we have evolved our go-to-market efforts to better serve our partners and drive customer success," Snap CEO Evan Spiegel said in a statement.
Additionally, Snap offered up a relatively optimistic internal forecast, saying that it sees its Q4 adjusted EBITDA coming in between $65 million and $105 million, a wide range but on the high end from Wall Street's estimates of $100.6 million. Notably, this was not formal guidance; Snap is opting to disclose internal guidance, which should be viewed with some caution.
The Earnings Rundown
Here are the key numbers that Snap reported, compared to Wall Street's expectations as compiled by Bloomberg:
Adjusted Earnings Per Share: $0.02 actual versus -$0.04 expected
Revenue: $1.19 billion actual versus $1.11 billion expected
Global Daily Active Users (DAUs): 406 million actual versus 405.79 million expected
Snap's daily active user numbers are particularly notable — they mark growth of 12% year over year.
Snap COO Jerry Hunter is set to retire, the company revealed in its report. Snap also authorized a share buyback program up to $500 million, implying that management thinks the company's stock is undervalued.
Snap shares came into this earnings cycle up about 9% year to date, lagging the Nasdaq Internet Index, which is up about 34% in 2023. Its revenue had declined in the last two quarters before the latest reversal.
Despite the upswing in Snap's revenue and signals that the advertising market is recovering, the company's investor letter acknowledged that the third quarter was tough. Looking ahead, there are also fears of another advertising downturn due to the war in Israel.
SNAP Short IdeaThis asset is in a big long terme range so risky to take a position in a middle like this but can be a great short spot to see the low of the range and even go lower if we break (for exemple if we hold a little part as 25% of the position).
We need to see the open of today or next monday to have a confirmation and great execution.
Great Trade !
SNAP - RECOVERY SCENARIOSnap's stock has been highly volatile, with over 42 moves exceeding 5% in the past year. Today's increase in share price suggests the market finds the news impactful but not transformative for the company. The most significant drop occurred six months ago when Snap reported disappointing first-quarter revenue, causing a 19.8% stock decline. SNAP faces company-specific challenges, as its peers in advertising and social media generally report stronger results.
Snap's stock has risen by 9.66% this year but is still 28.2% below its 52-week high of $13.51 in July 2023.
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SNAP: EASY 17.89 BEFORE NEXT EARNINGDespite the market consolidation, I agree that the SNAP sell-off was an overreaction. Big hands are attempting to shake off the Snap investors in order to move higher. Currently, large volumes are being bought as much as they can at below resistance, which is around 11.22, but if it breaks, we should expect 12.19 in no time. This is the time to start collecting shares, not wait. Big whales will force you to purchase you at a expensive price. I am bullish in Snap. GOING UP AFTER 08/07/2023
SNAP: Good move up very soonOn the chart, we see a wide consolidation channel, in which there is a set of positions and a new growth cycle for this instrument will soon begin. The first target is around $21.7, there is an unclosed gap. Look at the RSI, it is also approaching 30, which indicates that the instrument is oversold. The fair price today is ~ $36, if we apply the discounted cash flow system, so you can already form your positions in the long term.
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SNAP looks bullishJust broke out of the descending channel and may have found support on the WLB. Entry set on this level with another opportunity to add on the MLB. If level reaches here, I will look at some long dated options available that week.
Big divergence on Snab RS + its trading above the EMA on the weekly and looks like it going to cross on the monthly as well.
SNAP Wedge This is Snap Wedge drop range watch the first resistance at 12.50 and dropping below 10.27 for the base channel drop to 8.74 before our retest lower high bounce to 11.10 followed by the drop correction to 8.10 region. IF we can recover watching the bounce and break above 8.74 to retest 11.10
Is the SNAP Sell Off overreaction a Reversal Setup?Yes, I think that it is. On the 15-minute chart, the price action of the post-earnings
drop is seen The earnings beat the analysts. Price has started a low momentum
recovery. The dual time frame RSI shows the low/blue line RS rising above the
high/black line. SNAP is in the deep oversold and undervalued territory in the area
of the lowermost intermediate-term anchored VWAP lines. The mass index indicator
triggered a reversal in the pre-market hours today. I will take a cautious long trade
here expecting a price appreciation to 11.8 at or below the mean black VWAP.or about
10%.
SNAP oversold -> V recoverySnap has often oversold on earnings, V recovery incoming.
Snap Inc. is an American camera and social media company, founded on September 16, 2011, by Evan Spiegel, Bobby Murphy, and Reggie Brown based in Santa Monica, California. The company developed and maintains technological products and services, namely Snapchat, Spectacles, and Bitmoji.
SNAP interesting setup going into earnings 👀recently saw rejection from pivot level/recent trend support that flipped to resistance. We are still holding above local trend support though..
bounce here and break of 14 leads to a big rally, break of local trend support/11.45 and we may see a nasty pullback.
boost and follow if this helped, thanks 💛