After a initial pop on earnings the shorts were all over SNAP and the stock retreated 20% within days. We believe that the retrace is complete and the old downtrend is now acting as support. It is also notable that a
gap was filled and the price stabilized to the DIME on that level. Whats APP and TWTR's troubles in recent days may have stalled the communications...
$SNAP Looking oversold today finding support at $10 gap-fill from March.
Fundamentally I like $SNAP in the near term due to the success of unique filters introduced recently. They've been all over social media across all platforms. Definitely seeing a trend. Daily active user number should get a bump up for the quarter fueling ad sales.
Target - $13.00 by mid to...
SNAP is looking bearish, just completed its head and shoulders pattern right before a gap down in the chart to $10. Looking to breakdown and fill the gap for a 5-7% gain. The weekly chart has a round down pattern forming as well. Risk reward ratio is 1.25:1
SNAP looks bearish as fuck 4HR and my honest hope is the price holds just long enough into open that I can score some cheap 5/3 and 5/10 puts.
Better yet, the price spikes slightly to 11.30 and sells off from there.
Okay, so let's break it down. Bear flag, clear as day.
Other notable mentions would be rising wedge, rising price on declining volume and...
$SNAP is snuggled up to that 200 day ema, if she loses it I don't see any reasonable support other than our whole and half dollar marks (10.50 / 10.00). $SNAP has had a decent run recently so what we're seeing could just be a fair ABC correction.
The current setup looks bearish as is and could have possibly broken that wedge at the close of this day, but...
Please don’t try to be a fcking hero and long it here. If u just can’t sit on ur hands and have to take a trade might be better to short til it falls to around 10.20-9.00. My last nearly perfect call on linked. is linked. Before.
Not exact target or time frame, I just know from 1-5 impulse elliot wave set that there is a correction so i'll be buying puts after we finish our B wave rally. just testing some ta out don't follow me.
We have been very positive on snap for some time now and recent developments within the companies product offering has reaffirmed our confidence in the long term prospects for the stock. Despite downgrades the stock has held strong ans has made a few shorts suffer. WE have held the stock for some time and have nice profits built up but we will not be selling...
Snap Gapped down this morning on strong ADX and D+, so i will buy the reverse over 11.50 , that will be sign of continued strenght for the stock, and a nice way to join the trend.
Look at AAPL, did the same thing last week.
Buy stop in place at 11.51