Momentum indicators are suggesting a buying opp here, but the strength of any rebound is surely in doubt. As @StockJock-e noted above, SNAP has penetrated primary support at 14. Next would be secondary support at 13.5, and after that the price seemingly has little resistance until about 12. I don't have the guts to buy this one outright, but selling a handful of Jan2020 puts @12 can't hurt, could it?
Facebook had acquired Instagram for 1 billion dollars in 2012. But Snapchat was amassing users so quickly that it caught the eye of Facebook. Thus, Facebook reportedly offered to acquire Snapchat for 3 billion dollars, which Spiegel rejected immediately. And it seems that Instagram was repurposed to essentially become a Snapchat killer. It could incorporate nearly all features that Snapchat introduced.
SNAP shares are trading higher after Goldman Sachs maintained a Buy rating on the stock and raised its price target from $47 to $70. Dec 29, 2020 8:56a ET
Snap shares are trading higher after Piper Sandler initiated coverage on the stock with an Overweight rating and announced a $66 price target Jan 21, 2021 7:11a ET
Hey everyone - first post here.. asking for advice about Snapchat stock. I bought in at $43.16 and as of now it’s at $65.17. Investor Day is this Tuesday 23rd. What impact do you anticipate that would have? Is it time to get out? I’m looking for advice if it is likely to go up or down based on investor Day and general trends. Thanks and Cheers!
Nobody can answer that for you because you are the only person that knows your situation. If you own 5 houses and three Lambos... and have $500 in this stock, the answer will be very different. Rule of thumb is nobody ever went broke by taking a profit.
@MCtotheG The best advice is usually, when in doubt, just get out. If I was in your position, I'd probably let it test the resistance it's at to let it run if it wants to keep going. If you're concerned, put a tight stop below the low from today. Here's an hourly chart. I'd put a stop in that little circled area I drew, and watch for a breakout above the orange resistance line.
It just bounced off the 50 sma, so this could be the beginning of a new breakout; would hate to miss that, if it does happen. It might not. But I'm in it still. It's a good stock at beating the market. Oops
Wow, nice climb for SNAP today. I think they will be able to hold it also. I have not done any research into SNAP but I have heard they are getting into gaming and have released multiple games and have plans for more in the future. Could be an interesting way to bring in my users and generate more revenue.
SNAP been getting destroyed for the last few months. Dropped 23% yesterday on the absolute clobbering of FB but beat on earnings yesterday afternoon and is now up 46% pre-market
