If NYSE:SNAP closes in an upcoming day above the 18.5 (RED) , it would likely continue up to the 20-21 area (GREEN) .
If it closes considerably above the 20-21 area , it would likely continue up to around the 27-30 area (BLUE).
The Triangle coloured in grey would serve as support area along the way .
Today we take a look at Snapchat.
- Price has tapped our 1D Highs as well as HTF Supply.
I am now looking for a corrective move on SNAP - Targets @ 0.7 Fib Retracement + 2.7 Fib Ext | $10-$12
Invalidation = Above here & we can expect this area to flip into Demand paving the path for new highs. For now, we will ride this wave with the bears.
$Snap looks weak. This run up is over and now we're headed for $16.50 neckline support. We will break it and ultimately fall in the $14 area, filling the gap from the day after earnings. If you're a bull here, you're being greedy and need to take another look at your charts.
Bull Flag setup Trade.
Hidden bullish divergence of the pRSI (main oscillator) of my PRISM Oscillators Set have emerged; with momentum entering the positive -- pulled up by the positive and increasing AJ-Ribbon with Snap lingering in the positive.
AB=CD confluent with 161.8% Fib extension level.
Also, BUY signal triggered on CYBER ENSEMBLE on the 1hrly...
Snap is forming a H&S pattern here. Daily has a bearish MACD crossover. RSI Trending down. Sorry Bulls, but this puppy is cooked. Down to $15.04 we go.
Been too busy to publish by trade setups lately.
Here's one of several trades I'm in right now.
Cyber Ensemble BUY signal triggered on the hourly chart.
PRISM Oscillators Set
Bearish Divergence realised.
Hidden Bullish Divergence emerging.
pRSI-Stochs oversold state
AJ-Ribbon as well as the S-Osc on a sharp upward swing.
Sell signal on CYBER ENSEMBLE {Premium} triggered.
PRISM Oscillator's pRSI (main oscillator) entered bearish phase by crossing below its 30 VWMA.
Ichicloud reverted back into bearish state.
Economy significant impacted by the COVID-19 pandemic lockdown: jobless rates high, businesses going bankrupt, etc. no real sign of recovery yet. Market artificially propped...
SNAP showing signs of strength - already broke above the 1st range on a backdrop of demand (Volume Viewer) and bullish sentiment (green BoP)
getting ready to break the 2nd range and move above $18 ?
will come back and add a price projection shortly
This one is tricky.
1) There is a big engulfing candlestick, which suggests that there will be an up movement, you could take this long position and make your profit just on the above resistance ($17.13).
2) wait to see what happens when it reaches that resistance ($17.13) :
if it fails to break out, there is will be ahead and shoulder pattern suggesting a...
Since May 16 2020, the Market has been Bullish
Go short - Target Price set to 15.80 - Very aggressive option.
Less risky option is to wait for the signal to buy and to support the major trend.
Fundamental Analysis: First Quarter Revenue was positive
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Let's go family! Breakaway Scalper moves have worked well recently. We are currently looking for a long signal entry from Breakaway Scalper (Green bar color) if the uptrend from Fractal Trend can continue to stay strong and confirmed (Green background).
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STRATEGY USED:Momentum...
Now, waiting for CYBER ENSEMBLE {PREMIUM} to register a Buy signal, and PRISM Oscillators Set to revert back into a bullish phase again.
Expecting retrace back down to 61.8 % Fib level (i.e. 0.00000561 BTC) first.
Then bull flag target @ 1.618 % Fib level (i.e. 0.00000625 BTC); which is also precisely the measured move of the bull flag as drawn.
![SNAP: [SNAP] - High probability to ride up to the price 18.48 USD](https://s3.tradingview.com/c/cvP7HHmM_mid.png "[SNAP] - High probability to ride up to the price 18.48 USD")
![SNAP: [SNAP] - High probability to drop to the price 17.10 USD](https://s3.tradingview.com/x/XdRCBACt_mid.png "[SNAP] - High probability to drop to the price 17.10 USD")
