scheplick

My quick thoughts on Snapchat before earnings

NYSE:SNAP   SNAP INC
This is one of those stocks that I have always watched and the price action is pretty impressive. It STILL has not taken out its IPO-day highs and it's gone through years or harsh drawdowns followed by v-shaped recoveries. It is has not been an easy stock to hold for anyone long-term.

With that being said, I marked some important levels such as the Volume Profile most significant point of shares traded on a weekly basis since its IPO . I also marked its IPO day highs.

For the bulls to take this to the moon and gain complete control, it seems something has to happen on the fundamental side: positive and growing free cash flow. That means they can continue at their existing rate and reinvest in the company. If not, well, I think it could drop back to the 20s or teens.
I work at TradingView helping to build charts, tools, and software for everyone interested in financial markets.

Twitter: https://twitter.com/scheplick
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Comments

Interesting! I've been looking into Snap as well, and it is quite normal for some new companies to aim growth first, instead of profitability. But Snap seems to be a little different, as its CEO is trying for some time to turn the company profitable without success.

It is a new company, so lets give it a chance, but it has to react quickly!

Great insight, man!
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