My quick thoughts on Snapchat before earnings

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.



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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