scheplick

Snapchat soars! That's one giant cup and handle

NYSE:SNAP   SNAP INC
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.

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

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
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@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?
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That was a lovely, lovely C&H pattern call. Keep theese up :) Cheers
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I don't really understand?? About Snapchat and graph observation and making money through it??!!!!
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Great analyze
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(price bouncing EMA 50, retest of the upper line of the descending channel) + (CUP & HANDLE pattern) = ((Trade successful))
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Very nice work bro!
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Great analysis. Thanks for sharing.

Was long before the earnings report.
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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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