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SNAP INCSNAP INCSNAP INC

SNAP INC

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SNAP trade ideas

$SNAP - Potential for a Bullish BreakoutSimple trade thesis here for you all! SNAP has recently surged, and is flirting with all time highs yet again. We've been making higher lows after getting rejected off of 69.40 twice, and are looking to have another retest over the coming days. If we break above 69.40 we likely visit 70.90, and above that we take a trip to 73.55 before ultimately carving out new all time highs. Keep your alerts set for this one traders, SNAP tends to move aggressively. Don't get caught chasing!
NYSE:SNAPLong
by FluxTrades
1
High basing Pattern in SnapSnap is an expensive growth stock. It’s the kind of name investors have mostly avoided this year, although recent weeks have seen a shift back to such companies. This chart highlights SNAP’s last four months of consolidation. It isn’t exactly a cup and handle, but there are important similarities: It’s a high basing pattern well above old highs. There’s no single punctuated drop but a gradual fading as momentum slows, followed by incrementally higher lows. The social-media stock is also forming a tight range on the right side, suggesting a breakout may be imminent. The key line in the sand may be around $64. Prices have challenged that level several times on an intraday basis without a decisive close above it. There’s also potential support to the downside, with SNAP holding its 50- and 100-day simple moving averages (SMAs). TradeStation is a pioneer in the trading industry, providing access to stocks, options, futures and cryptocurrencies. See our Overview for more.
NYSE:SNAPLong
by TradeStation
1
My View on SNAPSnap is trading in the uptrend and do consolidation on the weekly chart. This company is very good to buy and hold. My prediction based on technical analysis, I believe SNAP would reach $100 in the next 12 months. SNAP is trading at $60 after breakout the trendline. It would backtest the strong support level at $56, then go to $73 in the short-term as the previous ATH. Therefore, my entry is $54 - $56 range, if the price action is a bullish candle in the daily chart. ----------------------------------------------------------------------- This is not financial advice. I'm not a Financial Advisor. Trading is a high risk, do your own DD. Let me know what you think Cheers, I would share all my thought next time. PEACE.
NYSE:SNAPLong
by TheBullishMan