SNAP is presenting the same patter of bigger players like SPY, QQQ or AAPL. However SNAP is below the 200 MA that relates with a downtrend, so this plus the breakout, plus the WTO high and getting lower shows bearish power. We'll see.
If you haven`t bought puts with me here:
Then looking at the SNAP Snap options chain ahead of earnings , I would buy the $10.5 strike price Puts with
2023-2-3 expiration date for about
$0.84 premium.
If the options turn out to be profitable Before the earnings release, I would sell at least 50%.
Looking forward to read your opinion about it.
I see price action retracing and the AD has breached both the 9/18 ema which is bearish on the 4hr chart. I see a bear flag and a rising wedge. In fact we're rising into an Apex. My target is $7.5
Snapchat (SNAP) possible short play
JMP Securities downgraded the company to market perform from market outperform, citing declining time spent on Snap and increased competition from Reels and YouTube shorts. Trading down over 4% today.
Late last year Snapchat (SNAP) reported a large slowdown, blaming inflation for its slowest revenue growth since going public...
Looking at the H4 chart, my overall bias for SNAP is bearish due to the current price being below the Ichimoku cloud , indicating a bearish market. Price has tapped into my sell entry at 9.24, where the 61.8% Fibonacci line is. Stop loss will be at 10.15, where the 78.2% Fibonacci line and recent high are. Take profit will be at 7.30, where the previous swing low...
Looking at SNAP on the weekly time frame, I kept a basic chart with only one support & resistance zone as well as one indicator that is mine, the cycle bottom indicator. We can see in the 2019-2021 cycle that we created this move from $7.05, which is marked as the bottom level in the accumulation zone with $9.20 being the top level, where the price is currently...
Looking at the H4 chart, my overall bias for SNAP is bearish due to the current price being below the Ichimoku cloud , indicating a bearish market. Looking for a sell entry at 9.24, where the 61.8% Fibonacci line is. Stop loss will be at 10.15, where the 78.2% Fibonacci line and recent high are. Take profit will be at 7.30, where the previous swing low is.
Any...
The infamous Amazon bubble pop from 1998-2001 shows a 93% draw down that took roughly 658 days to reach an actual bottom from its previous all time high. Following this same bubble pop on social media stocks- nearly all current social media stocks show the same pattern forming. Putting a bottom in around July of 2023 and a price target between 5 and 6 dollars. Not...
Looking at the H4 chart, my overall bias for SNAP is bearish due to the current price being below the Ichimoku cloud , indicating a bearish market. Looking for a sell entry at 9.24, where the 61.8% Fibonacci line is. Stop loss will be at 10.15, where the 78.2% Fibonacci line and recent high are. Take profit will be at 7.30, where the previous swing low is.
Any...
Looking at the H4 chart, my overall bias for SNAP is bearish due to the current price being below the Ichimoku cloud , indicating a bearish market. Looking for a sell entry at 9.24, where the 61.8% Fibonacci line is. Stop loss will be at 10.15, where the 78.2% Fibonacci line and recent high are. Take profit will be at 7.30, where the previous swing low is.
Any...
Looking at the H4 chart, my overall bias for SNAP is bearish due to the current price being below the Ichimoku cloud, indicating a bearish market. Looking for a sell entry at 9.24, where the 61.8% Fibonacci line is. Stop loss will be at 10.15, where the 78.2% Fibonacci line and recent high are. Take profit will be at 7.30, where the previous swing low is.
Any...
Looking at the H4 chart, my overall bias for SNAP is bearish due to the current price being below the Ichimoku cloud , indicating a bearish market. Looking for a sell limit entry at 9.64, where the previous low is. Stop loss will be at 11.03, where the 61.8% Fibonacci line is. Take profit will be at 8.27, where the -61.8% Fibonacci expansion line is.
Any...
Another daily wolfe wave setup was triggered post midterms. The chart for SNAP is closing in on a few gaps left open after the earnings debacle. With tax losses and Christmas rally into end of year, we should see most of the small caps rally and accelerate into Feb 2023. The apex and projection target lines can be used to estimate when price and time will meet in...
Snap Inc (SNAP) hit new lows last Friday, completing a disastrous -90% drop from its All Time High (ATH). The stock market fundamentals couldn't be more negative and is the reason why the majority of the market is expecting the price to drop even more. Few are thinking to enter Snap here and who can blame them?
However based on Dr. Jean-Paul Rodrigue's infamous...
![SNAP: Snapchat [SNAP] 2023 Outlook](https://s3.tradingview.com/h/hgrDYxhB_mid.png "Snapchat [SNAP] 2023 Outlook")
