The stock formed a long base while above its moving averages and in the last weeks is been leading the sector. So, I took position on
SNAP
on the breakout above the $65 resistance level. Now waiting to a good follow through to buy more. A good buy level for me would be higher than $69.60.
The risk/reward ratio (2:1) has a target price above another resistance level, so I'll be very carefull once it gets there. Probably I'll just rise my stop to breakeven.
SNAP
is been having a really good revenue growth, annually and quarterlly. Its EPS is not as good as I'd like but it has the technicals that I look for.
SNAP
on the breakout above the $65 resistance level. Now waiting to a good follow through to buy more. A good buy level for me would be higher than $69.60. The risk/reward ratio (2:1) has a target price above another resistance level, so I'll be very carefull once it gets there. Probably I'll just rise my stop to breakeven.
SNAP
is been having a really good revenue growth, annually and quarterlly. Its EPS is not as good as I'd like but it has the technicals that I look for.
Trade closed manually:
Sold my position just before the close. Biggest down day in months and 6 down days in the last 9 trading days. I'll wait for a better setup.