Long snapchat from identfied levels of resistance.. long 76 strike snap calls into friday, the odds are in our favor...
SNAP trade ideas
SNAP Breakout Long (8/5/21)Clean breakout on 4h/daily chart with double bottom forming around support levels. Could definitely retest ATH with volume and as long as major indices hold up, current price target around $79.
Support above the earnings gap up seems to have held up well, wouldn't consider puts/short unless we breach the level with volume.
Snapchat - Keeps surprising!-Social networking company Snap's (NYSE:SNAP) recent second-quarter earnings release was followed by many upgraded 12-month price targets for the stock from analysts. One revised target stretched as high as $110, translating to nearly 50% upside from where the stock is trading today. Furthermore, many of the price target hikes were featured alongside buying or outperform ratings.
-Capturing the company's improved advertising pricing, Snap said in its second-quarter update that its effective cost per 1,000 total ad impressions (eCPM) soared 122% year over year.
-"Rising eCPM relative to the prior year reflects the rapid rise in overall demand, improved optimization capabilities within our auction, a mix shift toward relatively higher eCPM products, as well as a mix shift toward relatively higher eCPM regions such as North America," said Snap CFO Derek Andersen in the company's second-quarter earnings call.
-Snap's trend of rising cost per 1,000 total ad impressions could persist over the next decade, Ju believes. Of course, the catalyst will decelerate from this quarter's triple-digit growth, as the period benefited from an easy year-ago comparison when marketers were holding back some ad spend as businesses navigated uncertain environments.
-Other analysts similarly cited sustainable growth trends in advertising revenue growth. But some also praised the company's ability to grow its daily active users.
-It's not surprising to see so many analysts growing more optimistic about Snap stock. The company's second quarter was truly exceptional. Revenue soared 116% year over year to $982 million, and the company's daily active users increased 23% year over year to 293 million.
-Furthermore, Snap provided very strong guidance. Management said it expects revenue in the third quarter to increase 58% to 60% year over year. This is quite an extraordinary outlook considering it's on top of 52% growth in the year-ago quarter.
$SNAP Upside Potential$SNAP has broken out and bounced off of the breakout area with plenty of volume today. This indicates a large move higher, although I am keeping my target reasonable at the 1.618 level of the shorter timeframe pullback ($83.73). Good Luck!
SNAP 4hr Bull FlagCurrently, SNAP is forming a 4hr Bull Flag.
Entry: 77.50
Stop: 73.40
Profit Target: 85.70
Additionally, SNAP just experienced a breakout to ATH on the weekly chart with strong volume.
$SNAP breaking short term down trend line.I just took and early entry here. My stop is a close below yesterday's low of 71.87. Ideas, not investing / trading advice.
$SNAP shorts. Great earnings. Great company. Very much over valued price. Been on off shorting $SNAP since the earnings report.
-Technical- Technically major gap to be filled, with ongoing pressure in equities I think this can be accomplished. Bulls will give up below 73.
I am short through puts from 75. Will expect a higher volatile move shortly.
Cheers.
$SNAP Testing moving average$SNAP is retesting its breakout of pennant and also testing its 20-day moving average.
A hold here could see a test of $77.
RSI is also showing signs of confirmation as it also is breaking above its trendline.
SNAPCHAT (SNAP) BULLISH DIRECTIONAlready breakout above 70.00, and SNAP might searching for its Support. I'm guessing it already found its support at 71.68 and Buyers might take control next week as Inverse Hammer is shown on Friday.
What do you guys think about this? care to share some thought with me?
Long set-up for SNAP wave 5Beautiful impulse forming on the LTF of SNAP. Wave 3 is done and I would be expecting it to finish a corrective move, either a basic zig zag or a potential triangle which is very typical for waves 4, in between the 382 and the 50 fib. I will be looking at longs towards the algo target very very soon.
Lovely chart ;)
$SNAP Ready for Next Leg HigherSnapchat has been consolidating since its earnings jump, putting in two inside days in the last four days. I believe we'll see the stock head higher again soon on its way to my first target of $89.
SNAP Consolidation above ATHs. SNAP earnings beat. It stayed perfectly above previous ATH. Perfect consolidation above and looks ready for breakout
$SNAP Good entry point after power gap up earningWe were expecting a good entry point on $SNAP after the earning gap up last week.
Today seems OK, still a bit overextended but it is fair enough for us.
Last earning results were amazing. Fund ownership is growing fast.
Now let's see where it goes and let's manage the risk with a smart SL.
SNAP gapped up. Could lead downwards $SNAP Gapped up on the daily chart could see a market correction and come back down to mid 60's
$SNAP with a Bullish outlook following its earnings #Stocks The PEAD projected a Bullish outlook for $SNAP after a Positive under reaction following its earnings release placing the stock in drift C
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SNAP is going to SNAP back to demand!We had a strong move on friday out of the channel as expected.
Now expect a retracement over the next few weeks down to strong demand below around $65.
SNAP Patterns and CircleIdea for Snapchat suggesting a break up through the circle, assuming the triangle formed just below the circle is acting as a flag
A lot of broadening wedges, a cup lacking a handle and a big symmetrical triangle
SNAP - Uncharted Territory BreakoutSNAP
Rst: 81.34
Spp: 74.08
Strong gap up upon earning release, you may be afraid to ride counter that has spike in this way but frankly a stock in uncharted territory, with broadly widened BB, will continue to catch trader’s attention.
SNAP: How to proceed in this post-earnings?Hello traders and investors! Thanks to the earnings report , SNAP is flying today. But how to proceed when this happens? Is it time to buy, to sell, to go short, or just do nothing? The charts will give us an answer.
If you are in SNAP, I always advise to book at least half of your profits in a day like today, just in case, and then set a technical stop-gain . On SNAP, the technical stop-gain is below the $ 73.59, as this point was the previous All-Time High, and it is supposed to work as a support in the future.
In the next week I would just set a trailing stop-gain under the previous day’s low. If SNAP keeps going up, that’s great. If it drops, then ok, time to exit.
Is there any chance that it’ll fill this gap? Yes, but I find this unlikely, at least for now. This is a Breakaway Gap enhanced by the earnings report, and SNAP did a breakout from the ATH by doing this gap (I like to call this Monster Gap ). The last time this happened on SNAP the momentum was so strong that it prevented even a pullback. Let’s remind SNAP on October 2020:
What could happen on SNAP right now, if it can’t keep pushing up, is a sideways correction , until the 21 ema catches up with the price again in a few weeks, to offer us a new support level on SNAP.
If I were out and wanted to buy SNAP, I wouldn’t count on a pullback, but I would wait for it to cool down a little bit more, and for the Risk/Reward ratio to make sense again. If I buy right now, it would feel like I would be buying from someone who bought at the last dip, and will use me to book profits.
Eventually, the 21 ema will get closer to the price, and we’ll see a good opportunity then. For now, as someone who’s out, I’ll just stay out. There are many more interesting stocks around.
Remember to follow me to keep in touch with my daily studies, and if you liked this idea, please, support it!
Have a good weekend!
MARKET ALPHA VIDEO REVIEW - SNAPNYSE:SNAP
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Snapchat - Great Earnings!-CEO points to highest revenue and user growth rates in four years
-Snap Inc. saw revenue more than double in the latest quarter, easily topping expectations amid a continued rebound in the advertising market.
-Shares were up 18% in after-hours trading after the company posted second-quarter revenue of $982 million, up from $454 million a year earlier and vastly ahead of the $846 million that analysts tracked by FactSet had been projecting.
-The social-media company added 13 million daily average users sequentially in the period, bringing its total to 293 million. The FactSet consensus called for 10 million net additions.
-Snap SNAP, 21.68% cut its losses in half, posting a net loss of $151.6 million, or 10 cents a share, compared with a loss of $326.0 million, or 23 cents a share, a year earlier.
-After adjusting for stock-based compensation and other expenses, Snap surprised with positive earnings per share of 10 cents, whereas it posted a 9-cent loss per share a year earlier. Analysts tracked by FactSet were expecting a 1-cent adjusted loss per share.
-“Our second-quarter results reflect the broad-based strength of our business, as we grew both revenue and daily active users at the highest rates we have achieved in the past four years,” Chief Executive Evan Spiegel said in a statement.
Consolidation , Short at market openingIf this gets over 73.59 , that will be the start of a ATH and a new uptrend. After just 3 months of consolidation i doubt it will do that. Same thing happen back With apple and Amazon at there last earnings back in May. Amazon was up 80$ premarket which put it at the top of consolidation, at the end of the day Amazon finish -70$. Im not saying this +9$ premarket goes Red , im saying that it will not hit a new high and will lose a significant chunk of its earnings.
First target fib support 67.53
If this gets and holds over to 74$ Negate
Lets see
