Snapchat soars! That's one giant cup and handle

It was interesting to watch Snapchat today after its earnings beat. It soared 30%. I personally think Snapchat is great, but have never really understood the long-term growth plan. Snap Kit seems really promising. But I noticed their user growth is not growing as fast as Instagram or Facebook or TikTok. So it's interesting to see that it's worth $50+ billion.

At the same time, I do notice that Snapchat is focusing more on global growth. So perhaps that is the exciting number. Global numbers and global users as opposed to just North American users.

I am watching closely to see how the pop holds up and this chart is a massive cup-and-handle chart I wanted to draw. Yes, it's not perfect and little ridiculous, but it had to be done. Snapchat since its IPO has been a mess! Congrats to any and all who bought at the bottom and held.
I work at TradingView helping to build charts, tools, and software for everyone interested in financial markets.



Well that sure wound up being an extraordinary double shot of caffeine coffee this week! I'm still surprised how far SNAP sling shotted for 3 days in a row. SNAP now has a P/E of 4,375. lol
+1 Reply
@growerik, hi! How did you get this PE?! Since they are still EPS negative, and most probably will be the whole Snap-life, the only PE measurable is the forward, hm?
That was a lovely, lovely C&H pattern call. Keep theese up :) Cheers
I don't really understand?? About Snapchat and graph observation and making money through it??!!!!
Great analyze

(price bouncing EMA 50, retest of the upper line of the descending channel) + (CUP & HANDLE pattern) = ((Trade successful))
Very nice work bro!
Great analysis. Thanks for sharing.

Was long before the earnings report.
Nicely done. I wonder if Picasso would have invested in Bitcoin if he were still alive; I imagine he'd have seen the cup coming from a mile away.
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