$SNAP Time has comea break here would be bull ~ however, this descending broadening wedge may not be over so wait for confirmation
Snap
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
SNAP can rallyShares of SNAP have been beaten down for weeks now, but today's decline has shares testing an upward sloping trend line that's held on multiple tests so far. I just jumped in via April 20th $15 calls for 32c.
Snap Inc. ForecastCurrently, Snap has broken the potential symmetrical triangle and now has broken the potential falling wedge. While a strong daily close could see this wedge still in play, I see it much more likely that Snap will be dropping to the bottom trend line which has accounted for bounces at ~$11.3, ~$12.3, ~$13.3. Depending on how fast and hard Snap drops, the bounce range could be between $13.5 to $14. Use the trend line as a guide not a set dollar value. It is important to keep an eye on Facebook and other social medias as well. The potential for regulation could invalidate this bottom trend line support if the news gets ugly for social medias through congressional intervention in the space.
SNAP longSNAP weekly has a bullish flag look. Daily chart also shows a falling wedge pattern into support area.
Potential long term play.
See notes on chart.
My Snapshot of SNAPHello friends. It's time to show some patience and join the smart money in the waiting mode (observed in the volume profile). I believe the rewards are still on the long side imho. Happy Sunday.
Time To Snap It UpLonger term view, long purely based on Fibonacci levels, great weekly bounce off 61.8% Fib level - Two target levels on chart - I'm long from $15
SNAP structure breakout gap pullback long opportunitySNAP almost retraced everything after its runaway gap on ER and went back to the magical underwriting price @ 17.00.
Also, between 16-17 will be the 0.618 retracement and structure breakout pullback long spot.
So I will be willing to wait for intraday reversal sign between 16-17 to take some long trades.
Let's see how it goes!
