Danger! EarningsI am doing this analysis as a request. Enjoy.
With earnings 3 days away, technicals mean absolutely nothing. Or do they?
If earnings were not in 3 days, and based these technicals I would short the stock as there is bearish divergence and weakening bullish divergence on the MACD.
A sell signal is also initiated by D+
But with a high RSI of 70.15, it can go even higher after earnings.
I personally believe Snapchat will do well this quarter as their platform is still growing, and being used now more than ever due to the pandemic. Personally I would not be afraid to hold a call through earnings, or not be afraid to hold my position through earnings.
Everyones level of risk is different so make your best judgement & and good luck to the SNAP bulls out there!
*DISCLAIMER* I do not recommend making trades based off of what I would do as I balance my risk/reward ratio, and trade options with money I am willing to loose. Losses happen and nobody can predict the future 100% of the time.
