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Snap Inc. (SNAP/NYSE) 19 July 2017, 13:53


Scenario
Timeframe Intraday
Recommendation SELL STOP
Entry Point 14.60
Take Profit 14.40, 14.15, 14.00
Stop Loss 14.90
Key Levels 14.65, 15.00, 15.40, 15.90
Alternative scenario
Recommendation BUY STOP
Entry Point 15.10
Take Profit 15.40, 15.50
Stop Loss 14.80
Key Levels 14.65, 15.00, 15.40, 15.90

Industry: internet software and services
Current trend
Snap Inc. continues to fall from the beginning of July due to the investors’ fears that the company can increase the commercial profit in the nearest future. Last week Snap Inc. has got the new rate decrease from Morgan Stanley. Earlier in the beginning of the month JPMorgan decreased the price benchmark on the Snap Inc prices. The investment banks suggest that the development of the new commercials products of the company goes quite slowly against the growing competition with the large and flexible Facebook.
During the last week Snap Inc. shares dropped by 4.78% against the growth of the S&P 500 index by 0.16%.
The comparative analysis between the indicators of the company and its competitors suggest the neutrality of its share prices.
Key levels
The aggressive sales prevail in the issuer at the moment. During the last month the price dropped by 16%. The trade instrument is around its historical minima. The key support and resistance levels are 14.65 and 15.00 correspondingly. Indicators don’t give clear signals, but the further decrease is expected.
Support levels: 14.65.
Resistance levels: 15.00, 15.40, 15.90.

Trading tips
If the price is set below the local resistance level at 14.65, find entering points to open short positions. Closing profitable positions is possible at the levels of 14.40, 14.15, 14.00. Stop loss is 14.90.
If the price is set above the round level of 15.00, the technical correction can develop to the levels of 15.40-15.50. Stop loss is 14.80.
Implementation period: 3 days. 
Από το Blogger.