SNAP had a mild top and bottom line beat with last week's earnings and
the price fall. Given SNAP's mediocre social media interface, I think the
earnings were decent but I suppose most traders felt otherwise looking
for more. Technically on the 1H chart, price is sitting at support at the
bottom of the fair value zone. PVT and the Gaussian Awesome Oscillator
are flat line trendlines. Reversion to the mean says SNAP will rise from
current market price. I will go long. If price can rise and get to 11.5,
the volume profile's volume void suggests it could easily cross over the
mean VWAP into the 12.5 range for another leg higher. If you want my
ideas of targets and a stop loss, please comment.
the price fall. Given SNAP's mediocre social media interface, I think the
earnings were decent but I suppose most traders felt otherwise looking
for more. Technically on the 1H chart, price is sitting at support at the
bottom of the fair value zone. PVT and the Gaussian Awesome Oscillator
are flat line trendlines. Reversion to the mean says SNAP will rise from
current market price. I will go long. If price can rise and get to 11.5,
the volume profile's volume void suggests it could easily cross over the
mean VWAP into the 12.5 range for another leg higher. If you want my
ideas of targets and a stop loss, please comment.
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