Snap
$SNAP Overbought 10%+ Downside$SNAP Looking overbought after gaining 30%+ since the end of May. After earnings gap fill to just over $14, looking primed for a correction. Will look for red candle tomorrow for confirmation.
I see 10%+ downside from here within a month - price target $12.00-12.50 area by mid-July.
$SNAP options play.Just an idea I'm playing.
Mid-term calls @ 5 Contracts 12.50 July 8th
Short-term Puts @ 3 Contacts 13.00 June 15th
Snapchat - It's not Facebook, You Just Recognize the Name(Trade this on 1Broker in my signature link for no-fees BTC-settled markets with social trading)
Snapchat dumped ~40% on earnings call for a reason. Now there's some murmurs going around about a partnership or an announcement or some nonsense and price has recovered.
Charlatan analyst groups like Citron are calling for $17 and if you read their research, it's a hilarious joke that only pump and dump believers would buy.
This is a phone app that people use to show each other their junk. Retail just recognizes the name and wants to buy it because bulltards.
$13.60 orderblock is being violated so it seems obvious this is going up more.
Ascent of uptrend is very steep and that doesn't seem to make a lot of sense for dumping 40%
What sucks here is the risk of squeezes against stops at $15-16, but I'm of the opinion that the move in this price area is the squeeze itself.
Looking to sell short over the May high, but I do not believe $16 or $17 is going to happen either.
Short: $14.50-$14.75
Stop: $15.90
Target: $11.25
R/R: 3.04
Remember, you don't have to win every trade. You just have to make more money on your winners than you do on your losers.
If this short is successful then you can also keep a portion of it for long term holdings.
Will be a public trade on 1Broker when active. You can "copy" me on the platform as well.
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SNAP looking for a bullish breakoutBought SNAP back at the opening on the retest. Looking for a breakout from the bullish pennent.
SNAP breaks out: to fill gap, return to weekly volume profileSNAP has closed above the daily downward trend. A long here on the daily timeframe could give good R:R if risked off all time lows with a target at the weekly volume profile, which coincides with filling in the recent gap.
$SNAP Time has comea break here would be bull ~ however, this descending broadening wedge may not be over so wait for confirmation
SNAP Short Watch by Studying the VolumeLearn the CTP basics by getting our mini series free.
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Volume is everything. Tradingview does not show the full volume of SNAP compared to other charting packages. It may be best to watch our youtube video here to see the complete volume explanation.
youtu.be
In a nutshell, SNAP is overall still in a downtrend and is giving up the volume here. The potential for ending volume as what triggered this morning is strong. Confirmation would be a break of today's low with a stop over today's high. Intraday confirmation has already occured, though daily confirmation is always stronger. At this point, the burden of proof is not giving enough reasons to add to any longs, but is not yet confirming sell. A tight hold is in place if still long, and if no position, a watch to the short side is recommended.
Volume is everything when trading countertrend breakouts. If you don't understand this, watch our CTP Basics 10 minute video on volume. Without the right foundation, you will never get to a spot where you can build your technical self up. GL.
SNAP CHAT POTENTIAL REJECTION AT 14.50SNAP, INC has been on a steady decline since it hit the market. In a period where the tech sector has been performing well despite recent market shocks, SNAP has not been rising with it's tech cousins. The company has also had some trouble from a recent redesign which upset users as well as some other internal issues.
We are seeing a rise from the $10.00 handle since Citron Research issued a rare buy recommendation last week for SNAP, INC indicating that the SNAP,INC is oversold, undervalued, and that the recent problems they have been having are priced-in. They expect a rise to $17.00 before the bullishness ends.
Personally, I don't see it. They could be making temporary recovery from their recent slide, but I see the short term bullishness ending around 14.50 when we hit the Kumo Cloud resistance. We also have a fair amount of short term resistance around the 16.40 area which we would need to break before we see 17.00.
SNAP long NYSE:SNAP , 4h and 1D close about key resistance can skyrocket SNAP higher (high short interest). Resistance at $12, next target at $14 (20%). No 4h candle close above $12 = no entry.
The Citron report will add some fuel for the longs: money.cnn.com
SNAP at support and extended - LONGAt the WL1, price is clearly extended and I look for a Trade up to the L-MLH at least.
(if you don't know what L-MLH means, it's the Lower-Medianline-Parallel - checkout my free course).
Another fact that I want to bring to your attention is, that price reacts very nice at the lines of the Fork - even with all the GAPS in between...
I wish you all a happy and profitable new week.
P!
SNAP Back To The L-MLHHere's a nice test of the Centerline guys & gals. I think I hop on and see if we can bang it to the L-MLH §8-)
P!
SNAP WK Supply Zone FormingPrice reacted perfectly to upper MN/WK supply zone, created all time low after earnings yesterday, new WK supply zone setting up for another short, though will be careful at all time lows, maybe less risk if price reaches up there.
SNAP reaches trendline supportSigninficant trendline support reached as the company earnings report is due by tomorrow, we can see some correction to the up from here.
Trade: Buy SNAP 14.00
TP1 15.60
Tp2 16.30
SL Daily close below 13.65
LONG SNAP AHEAD OF EARNINGSMarket Cap - $1831B
P/B - 6.09
Earnings Yield - (3.55%)
52w High-Low - $22.32 - $11.83
Implied Move (over earnings) - 15.5%
- Snap's is a globally used social media app. It's transition to automated or programmatic auction of Snap Ads is boosting its advertising revenues. On top of this, revenues from smaller business did more than twofolds. As a result, YoY revenues increased and the company's loss per share narrowed. The company continues to grow in Android market and in the international market.
- Snapchat has added a number of features such as 3D Friendmoji Deluxe World Lens, Bitmoji Deluxe, Stories in Search, Content Cards, 3D World Lens, Custom Stories, Snapmaps and Geofilters to make its social media platform more attractive to it's users as well as advertisers. The redesign of the app despite the technical glitches is expected to boost its popularity among Android users. The recent "Stories Everywhere" will help Snap gain a prominence over the web.
- Snapchat is the most preferred social networking medium among teenagers (Piper Jaffray's Taking Stock with Teens survey.) Reportedly, 45% of the respondents (average age - 16) said they prefer using snapchat compared with 26% respondents for Instagram. In an October report by Axios, Snap apparently witnessed a 40% increase in increase in submission of Stories since it unveiled its location based Map feature in June 2017. This growth will attract growth from advertisers (the main source of Snap's revenue).
- Snap is aggressively ramping up its original content efforts! The company partnered with NBC news to produce a twice-daily headline news show "Stay Tuned" for the Snapchat app to reach the millennial users. They also signed a $100m content deal with Time Warner Inc. Before this, they had inked a deal with NBCUniversal for the Winter Olympics and brought on board Disney's ABC network as well as BBC and Vice Media. Snap has also added Disney owned sports channel ESPN's SportsCenter to the platform. They also partnered with the Olympic Channel to provide more Olympic content over the Winter Olympics. We believe, Snap will continue to expand its original content portfolio which will attract subscribers!
It's main risks are competition from Facebook and the lack of revenue diversification is a major concern too.
NeroTree rates Snap Inc as a STRONG BUY with a 52w price target of $20.
SnapVery nice trade set up to get rich in a snap. ;)
Earnings report on 5/1: If positive, I can see it spiking up as it did in Feb after earnings report.
If negative, Stop loss at 13.40
I'm not a professional, this is for self educating purposes only. Feedback welcome!
"Be kind whenever possible. It is always possible." -DL
SNAPSNAP if forming a Double Bottom and also have a strong support zone and also at RSI now oversold.
For everyone that is interested to invest on SNAP in Long or Short term the entry is 13.81$
-For Short term: Exit at 12$ and profit at 20$.
-For Long Term: Exit at 11$ and profit at 28$
Snapchat Stocks, Potential buy opportunitySpotted a Bullish Pattern, the Flag pattern it forms when two parallel lines encompass the market. The pattern is seen as the market is potentially just taking a "breather" after a big move before continuing its primary trend. The Big move is the jump in price in February. First idea so don't crucify if wrong. Plus there update on earnings is being released on the 1st of May. Could be a 20-50% profit if all goes to plan.
Kurt's Trades
SNAP - READY TO SNAP BEAR NECKSLooking at the weekly time frame. Snap has made higher highs, and most recently higher lows. The line of least resistance is towards the bullish side. The earning report is on May 1st, 2018.
Which side are you on?
KALY in a rubber band ready to snap back up or going down?The RSI is below 10, so the stock seems oversold, it could look like a good rubber band pattern if the price was not UNDER the 200-day MA.
So is this an anomaly and the stock is going to snap back up? Or, on the contrary, is it going to go further down?
What do you think?
Expanding Rising WedgeHi guys. The recent action must have been quite discouraging for the market enthusiasts but if there's any positive sentiment left I would think this is the right level for a bounce imho. Please feel free to comment. Thank you.
WOW, SNAPCHAT!WELL WELL WELL.
Snap broke the '' V ''
I'm anticipating snapchat to head down to lows of at least $12.00 and I can see a sharp pull back to the upside occurring at least near the $16.00 Region however a push to the upside target of $18.00 would be nice.
I don't think that you should short this stock, however just wait for the nice easy pull back.
MY BIAS IS LONG ON SNAPCHAT GUYS!
TP: $16.00/$18.00
