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Moneymakero
Apr 17, 2021 10:57 PM

SNAP is going down Long

Snap Inc.NYSE

Description

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Potential expanded flat Elliott correction wave bear flag formation on SNAP. Resistance at the 0.618 level. Earnings in 5 days I expect SNAP to drop further as we approach the announcement date. I'm not buying puts due to IV crush. Bear call spread (call credit spread) is more suitable for this pattern. Let me know what you think.

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Comments
GiantZero
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Thanks Bro.
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