Short Term - We look to Sell a break of 26.32 (stop at 29.92)
Trades with a bearish descending triangle formation. We look to set shorts in early trade for a further test of the fragile looking support. The bias is still for lower levels and we look for any gains to be limited. The medium term bias remains bearish.
Our profit targets will be 18.18...
On 2022-02-14, SNAP largest shareholder, PRICE T ROWE ASSOCIATES INC, reported the selling of 17,607,412 shares.
MORGAN STANLEY also sold 4,061,262 shares and BlackRock Inc. 519,482.
I am thinking to buy the 26.50 strike price puts expiring April 29 for $1.61 premium.
Looking forward to read your opinion about it.
NYSE:SNAP is going up next month, so whoever wants to invest in it or was waiting for the right time to buy, now it's the right time to do so. Invest with your eyes closed as the price will surely go up the next month, which supported more by the NASDAQ and S&P 500 bearish run end, and it might even break the trend pattern and the 0.236 Fibonacci resistance zone...
I'm not sure what will happen with earnings tomorrow, but even if it's positive, the highest that I see snap going is to retest the top of the bear flag around $40-41 (or on an extreme move, a wick to $43).
After that, I think it sets up a reset of the RSI to fall lower. I think we'll likely see $SNAP in the $14-22 region over the next few months.
There are many possibilities that could happen here, but it does not matter what occurs since it will all be the same. we are still in a range but the directional bias that i assume is bullish, thus volume should increase on rallies and decrease on reactions. We will most likely see more bullish action after a major low or a ST has been tested.
Snapchat looks like it will be in a corrective phase for the next year. It may be worth a swing trade at $20, where the longterm support trend line lies, but longterm it should test the $13 range which coincides with an open gap and the .786 retracement of this larger degree 3rd wave.
Snapchat has probably peaked in terms of its popularity.
Yes- a lot of us use the app. Including myself. But what do they really do that is hard to replicate?
All of that aside, technical analysis says this stock is overpriced.
Bearish double top. Massive gap down below that has already broken. I originally meant to share this last week.
It has also lost both...
Snap has been trading mostly within a falling channel on the daily chart since Oct. 22. A falling channel is considered bearish until a stock breaks up from the upper descending trendline of the pattern.On Thursday, Snap was attempting to break up bullishly from the falling channel. If the stock does so, it will regain support at the 50-day simple moving average,...
We waiting the price go to 20.00 and when up to 25.00 that's point for entry, so we have some target and set it one by one . Every target we can get our profit or wait price up to 80.00 the last target !
Snap has been in a downtrend and with the recent earnings it has Snapped back into the descending channel. If we see a (Break Out) it will most likely be a fake out. Starting a short position at this level, Stop loss is if the weekly chart shows Bullish trend reversal. Profit take at $34.52
Snap Inc. operates as a camera company in the United States and internationally. The company offers Snapchat, a camera application with functionalities, such as Camera, Communication, Snap Map, Stories, and Spotlight that enable people to communicate through short videos and images. It also provides Spectacles, an eyewear product that connects with Snapchat and...