SNAP Stock Chart Fibonacci Analysis 0314231) Find a FIBO Slingshot
2) Check FIBO 61.80% level
3) Entry Point > 10.74 /61.80%
SNAP trade ideas
SNAP SELLHello . There is a possibility that Snapchat shares will drop. Once the price reached a strong resistance 12.25. The market bounced last time. And a very negative candle in the four-hour frame: Note: If you like this analysis, please give your opinion on it. in the comments. I will be happy to share ideas. Like and click to get free content. Thank you
Short SNAP | All time low $4.82 SNAP should change it's name back to Snapchat so investors know what it is, because right now, all it has done so far is snap the bulls necks. Snap is already down 87% from it's ATH and now looks ready to test its ATL after the past week's hard rejection at $12.67.
Snap Tried to Rally But it Didn’t Last LongSnap has been rallying as lawmakers move against TikTok, but traders may be selling the news.
Today we’ll consider the daily chart of the social-media company, which has struggled since growth names hit the wall over a year ago.
The first pattern is the jump above $12.50 on Tuesday, fueled by the news from Capitol Hill. SNAP failed to hold those gains, resulting in false breakout above the February high.
Next is the 200-day simple moving average (SMA). Prices remained below this long-term trend indicator during the entire decline that began in October 2021. This week’s rally was its first test of the 200-day SMA, which may trigger some alerts for trend followers.
Third, the stock gapped lower following its last two quarterly reports.
Finally, stochastics may be peaking near overbought territory.
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SNAP daily, it's showtime!SNAP has had a nice pullback after earnings, and now it is low basing on the 50-day MA and at the 0.618 FIB retracement and $10 even dollar amount, which acts as a magnet line. It is unbelievable how these areas of support or resistance are valid if we draw or mark them correctly. SNAP will have to decide if this is a bull pullback or if, after a low base breakdown, we will see new lows.
Volume is falling with consolidation, which is a good sign for the possibility of a bull pullback.
The price is below all major MA, which is bearish.
RSI has cooled down after an extreme and is now neutral.
MACD is ticking lower while both the MACD line and signal line are at the zero areas, or the "to be or not to be" area. If it drops below the zero line, then we can't watch for a bull pullback anymore.
Overall: SNAP is in a dangerous area for bulls. It is low basing at a major support line. If it breaks down from the low base formation and breaks below the blue dotted line, a short position would be triggered. The first area of support after that breaking low base would be the trend line, the blue dotted line, and if that would not hold, support would be the lows from 2022, the blue area of support.
However, if SNAP finds its buyers and we start to move up on strong volume, this would be the perfect area for a bull pullback to be triggered. But remember, a bull pullback can only be triggered if it does not drop below the 0.618 FIB retracement area, meaning the price cannot drop more for us to call this a bull pullback.
I can't buy this stock, even though it would be quite interesting after a 90 percent drop. A set of rules is a set of rules, even if the picture is technically frenetic. However, the results calculated by Optistock and Gurufocus sites are weak. The currently monitored return on investment (ROE) is also disgraceful, even though the only expectation here is that it should show a plus figure, for which I see -45.8%.
$SNAP: Weekly trend reversal?Interestingly, $SNAP is going for a 2nd attempt at a long term trend reversal here, worth noting. If it holds over $9.85 we could get a substantial rally out of this one. It is interesting because market participants are seeing $SNAP as a kind of reflection of the economy, and as a leading indicator for $META and $GOOGL.
Let's keep an eye on this one, I'm not in the trade in this case but following it for analysis purposes.
Cheers,
Ivan Labrie.
SNAP bears lost control since December 🐻noticed how price action changed from bearish to bullish since the big trend resistance turned to support in December.
watch from climb back above 12, if that comes push to 15-20 is possible.. like and follow for more! 💙
SNAP looking bearish. $SNAPSNAP is presenting the same patter of bigger players like SPY, QQQ or AAPL. However SNAP is below the 200 MA that relates with a downtrend, so this plus the breakout, plus the WTO high and getting lower shows bearish power. We'll see.
using ARKK as an indicator to carcass pick stocks $snap $arkk If and when stocks finish the bear market, there will be deals at fair prices. snap is a good example of a once over valued and over exuberant stock whos earning guidance and result kept coming down after peak 2021. If arkk and the rest of the growth stocks keep trending lower as we may or may not be already in recession, I'm checking my favorites list to see what value Id be happy to grab deals. Happy hunting.
Snap entering a critical areaSnap is close to go into a very critical area as shown in the chart. if it goes beyond then it is a strong indicating of a bullish move.
SNAP Stock Chart Fibonacci Analysis 021823Trading Idea
1) Find a FIBO slingshot
2) Check FIBO 61.80% level
3) Entry Point > 10.3/61.80%
$SNAP with a bearish outlook following its earnings #Stocks The PEAD projected a bearish outlook for $SNAP after a Negative over reaction following its earnings release placing the stock in drift C.
SNAP 03/17 11Pcpi on this tuesday, bearish on this number. SNAP finally have a doji red bar on weekly chart
wait it bounce to 11-11.5 level to entry put, target 9.5-10.
The market bounce shows weakness after a long run.
META new high, PINS failed, BMBL failed.
The XLC sell off last week
SNAPBUYAn opportunity to buy Snapchat stock with a breach of the bearish flag and a good retest with a positive candle
SNAP - could be emerging from baseSNAP plunged 10.3% on 1st Feb after announcing yet another quarter of dismal results. However, what happened after that is interesting.
The stock began to recover steadily in the last 3 days on good volume, a stark contrast to the correction the general market was experiencing. This exhibits "hidden" strength / support for the stock.
There is a good chance it is going to test a critical neckline @ 12.94 in the coming days. Should it begin to break above this neckline and also the 200 day MA, then the odds are good then it has entered into a recovery phase.
Let's wait and see.
Disclaimer: Just my 2 cents and not a trade advice. Kindly do your own due diligence and trade according to your own risk tolerance and don't forget that money management is important! Take care and Good Luck!
$SNAP - Long Trade IdeaMore information to be provided in future comments. I want to post this before closing.
Average: $12.00
snap stock med term analysisas noticed on the chart snap stock break a resistance area with high volume candle, It will move the price to next resistance area
the gap should be close as well as illustrated on chart
SNAP shortNow I am bearish on SNAP:) IMO it can go down to $9.04 again.
Entry price is $11.00 and stop loss level is $11.67. Risk/reward is 2.93.
SNAP Snap Options Ahead Of Earnings | Who`s still using it?!If you haven`t bought puts with me here:
Then looking at the SNAP Snap options chain ahead of earnings , I would buy the $10.5 strike price Puts with
2023-2-3 expiration date for about
$0.84 premium.
If the options turn out to be profitable Before the earnings release, I would sell at least 50%.
Looking forward to read your opinion about it.
SNAP strong bullish to expect
Hi viewers, SNAP technically watched here expecting strong bullish push in next periods
TP1:13
TP2:14
Snap Inc. (SNAP) ... More than Finger Excercise ??I am always intrigued with patterns (harmonic) within patterns.
Snap Inc. (Snap) fits that bill.
(1) The Original pattern is a Cypher, which began life around Dec, 20th 2022.
Target 1 has been met and I have marked Targets 2,3 and 4.
(2 ) Coincidentally this is may be the beginning of a larger bearish harmonic pattern, whose beginning I marked as last September.
The extent of Leg D is undetermined , but it has the potential of forming a harmonic Butterfly, Bat or Deep Crab
These objectives have also been marked.
(3 ) Not withstanding the above, recent price action appears a little extended and I have marked an Extended ABCD pattern
as a short term reversal point. This may cause a pull back to 1/3 to 1/2 of the recent rally. This area is also outlined.
(4) I have also marked the AC leg of this potential Butterfly/Bat/Deep Crab harmonic with an extended dotted line.
The fact that this was broken today is a good thing , although often price action through a trendline often requires a retest.
Of course everyone is waiting for the Fed's action tomorrow. So pay attention to broader markets, be nimble and cautious.
As always do your own due diligence.
I will update as necessary.
Good Luck
S.
Snap backHighly likely this was a contrived pullback
Bullish divergence
Would expect it to hit the top of the fork
GRI 2023
