How the (SNAP) price action is used to our Advantage
April 19, 2024, 04:00 am ET, BY Rick O.- Contributor| Editor: Thomas H. Kee Jr. (Follow on LinkedIn)
Longer Term Trading Plans for SNAP
- Buy SNAP slightly over 10.68 target 13.52 stop loss @ 10.65 Details
The technical summary data tells us to buy SNAP near 10.68 with an upside target of 13.52. This data also tells us to set a stop loss @ 10.65 to protect against excessive loss in case the stock begins to move against the trade. 10.68 is the first level of support below 11.63 , and by rule, any test of support is a buy signal. In this case, support 10.68 would be being tested, so a buy signal would exist.
- Short SNAP slightly under 13.52, target 10.68, stop loss @ 13.56 Details
The technical summary data is suggesting a short of SNAP as it gets near 13.52 with a downside target of 10.68. We should have a stop loss in place at 13.56though. 13.52 is the first level of resistance above 11.63, and by rule, any test of resistance is a short signal. In this case, if resistance 13.52 is being tested, so a short signal would exist.
Swing Trading Plans for SNAP
- Buy SNAP slightly over 13.52, target 16.58, Stop Loss @ 13.48 Details
If 13.52 begins to break higher, the technical summary data tells us to buy SNAP just slightly over 13.52, with an upside target of 16.58. The data also tells us to set a stop loss @ 13.48 in case the stock turns against the trade. 13.52 is the first level of resistance above 11.63, and by rule, any break above resistance is a buy signal. In this case, 13.52, initial resistance, would be breaking higher, so a buy signal would exist. Because this plan is based on a break of resistance, it is referred to as a Long Resistance Plan.
- Short SNAP slightly near 13.52, target 11.2, Stop Loss @ 13.56. Details
The technical summary data is suggesting a short of SNAP if it tests 13.52 with a downside target of 11.2. We should have a stop loss in place at 13.56 though in case the stock begins to move against the trade. By rule, any test of resistance is a short signal. In this case, if resistance, 13.52, is being tested a short signal would exist. Because this plan is a short plan based on a test of resistance it is referred to as a Short Resistance Plan.
Day Trading Plans for SNAP
- Buy SNAP slightly over 13.52, target 16.58, Stop Loss @ 13.49 Details
If 13.52 begins to break higher, the technical summary data tells us to buy SNAP just slightly over 13.52, with an upside target of 16.58. The data also tells us to set a stop loss @ 13.49 in case the stock turns against the trade. 13.52 is the first level of resistance above 11.63, and by rule, any break above resistance is a buy signal. In this case, 13.52, initial resistance, would be breaking higher, so a buy signal would exist. Because this plan is based on a break of resistance, it is referred to as a Long Resistance Plan.
- Short SNAP slightly near 13.52, target 11.59, Stop Loss @ 13.55. Details
The technical summary data is suggesting a short of SNAP if it tests 13.52 with a downside target of 11.59. We should have a stop loss in place at 13.55 though in case the stock begins to move against the trade. By rule, any test of resistance is a short signal. In this case, if resistance, 13.52, is being tested a short signal would exist. Because this plan is a short plan based on a test of resistance it is referred to as a Short Resistance Plan.
Check the time stamp on this data. Updated AI-Generated Signals for Snap Inc. Class A (SNAP) available here: SNAP.
SNAP Ratings for April 19:
| Term → | Near |
Mid |
Long |
|---|
| Rating |
Strong |
Weak |
Strong |
| P1 |
0 |
0 |
10.68 |
| P2 |
10.67 |
10.38 |
13.52 |
| P3 |
11.59 |
11.2 |
16.58 |
AI Generated Signals for SNAP
Blue = Current Price
Red= Resistance
Green = Support
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Our job as #investors is to pay attention to the #stocks we own. Part of that involves looking at the #fundamentals, but half of the disclosure comes from looking at price action. The Snap Inc. Class A (NASDAQ: SNAP) data table below can help you with price action, and we have more details too. Trading plans for SNAP are shown here too; these plans are updated in real time for subscribers, where this report is static. If you want an update, or a report on a different stock, please get one here Unlimited Real Time Reports.
Fundamental Charts for SNAP:
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