SNAPchat... this is madnessFor a company that never had a profit, actually with increasing losses with time, SNAP has really gained a lot of stock uplift the past year. More than doubling in "value". Frankly, Snapchat is quite a nice app, nice to use some funny filters for a few minutes once in a while. But their revenue scheme needs an overhaul. If in their previous quarterly reports they even had quite a bit of help from the pandemic situation in the world, and they still couldn't post a profit. This time I think that it may become a bit ugly for them. I can't say for sure what makes it rise, when all the numbers show otherwise. Either there are some very rich guys out there playing some sort of short squeeze, or millions of young investors see it as a good opportunity. Unfortunately, my opinion of it, with their current revenue scheme, is that it is a bit useless.
Therefore today I opened a small short position pre-earnings. Maybe I'm right, maybe I'm wrong. I just wanted to share my thoughts with other people who possibly know better than me and who would like to share me theirs.
1SI trade ideas
SNAP surprise earnings anticipated target $31.19 on 10/20On 10/20 after hours, SNAP expected earnings per share is $-.05, but I’m anticipating an earnings surprise in the green. And therefore my price target is $31.19, right on the button of the monthly Fibonacci retracement 1.618. Good luck and happy trading friends...
Snap showing bullish price action NYSE:SNAP formed a nice Cup formation and is about to breakout, I will wait for daily close above neck line at 26.78$
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This is only my own view and not a financial advice, do your own analysis before buying or selling
Happy Trading!
$SNAP Bullish Into earnings .
Potential long into earnings , in this hyper bullish name, while FB is stuck in the mud and the relentless attacks
on Big tech, SNAP has risen without any major resistance to settle just below the ATH today.
The options market is quite bullish also.
Fibonacci expansion targets $30.00 - $33.00, this could be a major breakout coming from a 3 year base.
If not willing to long into earnings, wait for the event and the inevitable pullback to test old resistance as support.
BUY to SNAP Hey traders, SNAP is at a very important moment in its history, we can witness a historical high. It is in a fake bearish phase with large buying volumes executed in the session and an abortive buyer's attempt in full VWAP. We can observe on the TIMEFRAME M1 a hammer bear candle on the VWAP, strong potential to breakout the comfort zone to reach another. And make a higher historque with a symbolic number at 29.65, then the next one is on 29.70.
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LONG SNAPSNAP has formed a solid base and is close to finishing its handle formation
Has spent some time in this base so I would suspect a break of ATH could lead us to R1 of 30$ which was the IPO price
Upon taking out the 30$ price which I suspect it will after falling drastically over the last few years, we can see the social media company continue to propel upwards - easily 35$
I'm looking to get into the Jan 2021 27$ calls that are currently costing 3.25/contract
Entry details as as follows
Enter at the break of 27.50 to 28$
Stop loss at 26.50 (located at the bottom of the handle)
Qty: 10 contracts
Thinking this will take 1-2 months for the trade to materialize