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SNAP INCSNAP INCSNAP INC

SNAP INC

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SNAP trade ideas

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). TradeStation is a pioneer in the trading industry, providing access to stocks, options, futures and cryptocurrencies. See our Overview for more.
NYSE:SNAPLong
by TradeStation
1
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. ----------------------------------------------------------------------- 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.
NYSE:SNAPLong
by TheBullishMan
$SNAP Looking to Retest ATH As I updated a short while ago, snapchat did in fact break out of its trading range pushing near the $64 price level, and since then, had a healthy and expected pullback that found support on the top of the channel which is a bullish signal IMO. The price action in the next 2-3 trading days will determine if the market wants to take this higher back towards the $70 range which I believe will show strong momentum at the open tomorrow. I previously had a position in shares, but will instead be doing a multi-legged call position to maximize return. According to the price action in the morning tomorrow, positions I will most likely take are below. GLTA 6/25 $65 Calls 7/16 $65 Calls 7/16 $70 Calls Not financial advice.
NYSE:SNAPLong
by chartxzy