SNAP trade ideas
SNAP ATH retest soonSNAP has formed a nice wedge and is getting ready to breakout of it. The fib arcs show a breakout is imminent as well. There were large flows for leaps a couple days ago at this level for SNAP. FB also has earnings tomorrow, so the ER runup can give a sympathy pump to SNAP as well.
with facebook earnings on deck looks bullish With facebook earnings on deck looks like this is trying to hit the all time high.
let see it
SNAP reversal zonePlaying calls here. Looks like it could possibly dip a little more but I expect a bounce. Good to swing too.
Looks like $70 Coming soon After the first Break away GAP looks like its waiting for Runaway GAP .....
Waiting for 70$ now
Shorting Snap AgainMade a 250% profit last time I shorted Snap and here is why I am shorting it again.
5 sell signals on the 3x confirm!
High Bearish divergence as indicated by D+
Weakening bullish strength as indicated by MACD.
RSI has shown the stock has been overbought for quite some time.
SNAP swing trade longSnap bouncing off support level - Candles crossing over TEMA 30 - looking for first PT of 51.3 - then should fly up to 55 shortly after if we break through.
SNAP good dip entryAfter last weeks selloff, SNAP is a good dip entry imo. I picked up $50 Straddle 1/22 expiry on Friday before market close so I'm positioned to separate the call and put side today / this week, according to price action. Do your own due diligence, your risk is 100% your responsibility. You win some or you learn some. Consider being charitable with some of your profit to help humankind. Small incremental steps work : If you double a penny a day for a month it = $5,368,709. Good luck and happy trading friends...
*3x lucky 7s of trading*
7pt Trading compass:
Price action, entry/exit
Volume average/direction
Trend, patterns, momentum
Newsworthy current events
Revenue
Earnings
Balance sheet
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+5% portfolio trades, risk management
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FOMO : bad timing
Lack of planning & discipline
Forgetting restraint
Obdurate repetitive errors, no adaptation
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Reading books, playing chess
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Fibonacci VIP - volume
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pi RSI - trend momentum
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$SNAP Channel PullbackSnap coming into a confluence of 3 support levels:
1) 50 MA
2) 3 month channel support
3) Short term horizontal support
That said, and if you have been watching my setups for a while, I buy strength not weakness. But for folks who's style is buying weakness, here is a setup for you.
$snap ULTIMATE SNAP Chart I see a hard bounce coming here soon for a right shoulder forming looks like its losing momentum, if it cant break that key level it should go down maybe for a possibility of a gap fill for wave 4 which will be nasty... if not over that break with strong volume and momentum then next target should be around 60 bucks i am loving this and i will keeping it on high watch.
SNAP ShortSnap is going to sell off due to a reduction in its own customer base, they will make less revenue for at least the next 2 years until they can recoup their losses.
I plan to short SNAP at 49.50 and if it rises to 52.50 I will double down, max loss at 54.
I will double down at 47, and sell half at 46, re-add at 45, sell again at 44, re-add at 43, and sell at 42.
I created a predictive outline of how I think it will trend.
This stock will continue lower as all previous fundamentals are now NULL AND VOID.
