Hello. Here what I think about SNAP. Friend asked me if we should do something about this stock. It seems like it has upside down head and shoulders now. Which is a bullish reversal sign for long near term. You can see clearly the setup on chart and probably future upside path. 3rd path maybe greater. But for now, I would target $28-29 per share. We will see how much snap made during the quarterly report, I would assume a lot of people were snapping while on lock down. I might get into trade as well. If I would, I would get a month long option here. ( some correlation for quarterly report needed. If it pops, sell the option ). However, my friend buy and sell share, so less risk. Options require timely sell, shares requires time :)
Trade active:
Very nice gain since yesterday. I am not on this trade. But I see it's doing pretty good. 25.24 per share yesterday when I posted it. And right now 26.48. Very cool 6-7%. If you had an option, that would be about 50% gain if sold on a pop. But if you have long option ( month ). I would say hold it and sell before report. Or be cautious after ( you never know how much money they made :) ). But technicals are nice for this trade. Good luck.
Trade closed: target reached:
Very nice trade. Time to close it.