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Snap Inc.

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SNAP trade ideas

SNAP - Short term bullish Snap had an ugly distribution pattern and an Island Top at the 70-80 price few weeks back and its been selling ever since, with last 3 weeks the selling had accelerated in momentum reaching the importing level of 28-30, closing a long due gap. That level should provide enough support for a bounce back at 40 level, towards the 50 Daily EMA. I believe SNAP price is so oversold short-term, that bulls will be looking at ER for an excuse to send this up for the next few weeks. First important level is at 35 next is at 40
NYSE:SNAPLong
by TheSilkRoad
SNAP, 14 Jan. The End is your Friend.Snapchat has lost -54% from the highs in September, but there are signs of a (local) reversal. Let's see if we can pick up SNAP here. Geometry: Connecting the tops we can draw a channel. The median is confirmed by price action. SNAP approaches the bottom of the channel where we can expect a potential bounce. The green trend line gives an element of confluence. Elliott: We are able to count an unfolding ABC with wave v (in green) to be completed. The 38.2% fib level is below at $34. Oscillators: Stoch is oversold and due to move up. RSI has been in the oversold since Oct. and could retrace. How to trade it: The area between the 38.2 fib and the channel bottom gives us a good risk-reward ratio to speculate on a reversal. Because the area is large (34-37) we may choose our entry based on a candlestick pattern (reversal doji) or slingshot method, to have evidence of bulls stepping back in. Below 33 the idea is likely invalidated.
NYSE:SNAPLong
by UnknownUnicorn12250317
Snap long this looks like a good place to start accumulating SNAP. bottoming off a long term trendline forming a morning star on the daily (hopefully today closes above 42.75 area), We are seeing bullish divergences on multiple timeframes and have multiple patterns telling us to look for a reverse. Furthermore, we are starting to see activity in the ticker. I would like to see momentum continue to gear up as well as seeing this thing base over 43.30-43.38 area. looking for 53.17- 56.85. have other pt sooner than that for scaling. This is not financial advice
NYSE:SNAPLong
by mbalboni10
SNAP to continue sellingSNAP may have hype on it's side for it's participation in the Metaverse, but SNAP earnings reveal a darker story. Negative earnings have been a key factor in this stocks recent declines. With no net gains in income, investors are bailing out until they see a light at the end of the tunnel. I recently deleted my Snapchat account due to Instagram's new TikTok add-on , so I have a little bit of a bias on the short comings of this stock. However, being bias, I would like to think I am backing this belief with at least some foundational analysis. SNAP has a gap to fill and I like to believe most gaps presenting themselves on the daily chart will eventually get filled. That being said, I have SNAP falling to 39 first which would bring the stock down to 1.618 fib retracement level, then to fill the gap further falling to 29 which is the 2.618 fib retracement level, before any BUY consideration will be made. Not financial advice Happy trading
NYSE:SNAPShort
by FiboTrader1