VCP (MINERVINI TWITTER)For study purposes
Very strong moves, tomorrow most likely will break out of its line of supply.
SNAP trade ideas
Snap Inc. $SNAP is leading, now waiting for follow through The stock formed a long base while above its moving averages and in the last weeks is been leading the sector. So, I took position on NYSE:SNAP on the breakout above the $65 resistance level. Now waiting to a good follow through to buy more. A good buy level for me would be higher than $69.60.
The risk/reward ratio (2:1) has a target price above another resistance level, so I'll be very carefull once it gets there. Probably I'll just rise my stop to breakeven.
NYSE:SNAP is been having a really good revenue growth, annually and quarterlly. Its EPS is not as good as I'd like but it has the technicals that I look for.
$SNAP - Potential for a Bullish BreakoutSimple trade thesis here for you all!
SNAP has recently surged, and is flirting with all time highs yet again. We've been making higher lows after getting rejected off of 69.40 twice, and are looking to have another retest over the coming days.
If we break above 69.40 we likely visit 70.90, and above that we take a trip to 73.55 before ultimately carving out new all time highs.
Keep your alerts set for this one traders, SNAP tends to move aggressively. Don't get caught chasing!
SNAP Pivot BreakoutBreakout on above average volume. Volume on the day before the breakout 62% of average. Looking for a move towards the high.
Entry: 65.67
Stop: 59.43 (-9.50%)
Symmetrical TriangleHas broken upper trendline of the triangle.
Possible stop at last pivot low or below support.
Price at upper band set on an 80 dma.
No recommendation
SNAP BUY OR LONG TARGET $80Snap confirmed a breakout of the " SHS " pattern, the target of the
pattern is $80, of course you still need a safe stop around 8%.
Good luck.
SNAP could be headed to $85snapchat $SNAP has been range-bound and rejected multiple times at the $65 level for the past 6 months, and finally broke above it. Measured move is to around $85.
Do your own research, this is not financial advice.
SNAP Breaking OutClean breakout in progress for SNAP. After a lengthy consolidation, price tightened up before exploding higher today. Solid relative strength and relative volume add further confirmation to the move.
SNAPLooks like it wants to get up and out and run. MAs look better this time then on the previous similar look.
Swing trade ideaPotential breakout here, the target could be around $84 as per Fibonacci trend extension. we need to break out of the pennant ($65 -$66 level) for confirmation.
Call options ( $65 - $70 strikes ) might be a good option as well.
Please note:
- I'm just sharing my view. its not a recommendation for buying or selling.
High basing Pattern in SnapSnap is an expensive growth stock. It’s the kind of name investors have mostly avoided this year, although recent weeks have seen a shift back to such companies.
This chart highlights SNAP’s last four months of consolidation. It isn’t exactly a cup and handle, but there are important similarities: It’s a high basing pattern well above old highs. There’s no single punctuated drop but a gradual fading as momentum slows, followed by incrementally higher lows. The social-media stock is also forming a tight range on the right side, suggesting a breakout may be imminent.
The key line in the sand may be around $64. Prices have challenged that level several times on an intraday basis without a decisive close above it.
There’s also potential support to the downside, with SNAP holding its 50- and 100-day simple moving averages (SMAs).
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$SNAP BreakdownSnap shares have been rejected by the $65 resistance zone, which indicates that $SNAP could see a large decline in the upcoming weeks. Notice the high volume on this pullback. Good Luck!
My View on SNAPSnap is trading in the uptrend and do consolidation on the weekly chart.
This company is very good to buy and hold. My prediction based on technical analysis, I believe SNAP would reach $100 in the next 12 months.
SNAP is trading at $60 after breakout the trendline. It would backtest the strong support level at $56, then go to $73 in the short-term as the previous ATH.
Therefore, my entry is $54 - $56 range, if the price action is a bullish candle in the daily chart.
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This is not financial advice. I'm not a Financial Advisor.
Trading is a high risk, do your own DD.
Let me know what you think
Cheers, I would share all my thought next time.
PEACE.
