Snap Inc (snap) Has No Friends At The Minute!

Discussion in 'Investment Charts' started by longtermbull, Jul 18, 2017.

  1. Buyonthedips

    Buyonthedips Senior Investor

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    I wonder if this is the start of a mass clearout and a new era for the company? The management changes since it came to market have been significant and the latest looks like a chance to clear the decks and start again. The market does not seem too fazed at the minute but time will tell.
     
  2. gowiththeflow

    gowiththeflow Senior Investor

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  3. Buyonthedips

    Buyonthedips Senior Investor

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    This price seems set to smash through the last of the resistance levels on the upside - have things really turned a corner?
     
  4. gowiththeflow

    gowiththeflow Senior Investor

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    Shares taking a breather and to be fair it has held up very well after the recent rally. I thought it was too small to survive but the market seems to be warming to a possible recovery. Interesting!
     
  5. longtermbull

    longtermbull Administrator Staff Member

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    There are a lot of techy stocks stagnating at the moment, Snap and Apple spring to mind. Any reason? Or just a lack of direction?
     
  6. gowiththeflow

    gowiththeflow Senior Investor

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    Looks like the shares were a steal at $5 in hindsight (always a good skill to have lol). Personally this is not a sector I would chase as I think it is far too crowded and the smaller players are slowly being squeezed by the likes of FB. Could SnapChat be a bid target?
     
  7. Buyonthedips

    Buyonthedips Senior Investor

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    This is one which we all seem to have missed - I personally dont understand the rally as the sector is very very competitive and dominated by the big players. Why have the shares rallied so strongly?
     
  8. longtermbull

    longtermbull Administrator Staff Member

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    Without any new developments it looks like this one could drift down to around $9 and possibly lower. Investors seem to be banking on a massive improvement - if they are wrong, it is a long way back down to previous lows :(
     
  9. gowiththeflow

    gowiththeflow Senior Investor

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    It's a while since I looked at this one, it does look as though the share price has fallen through the last of the main support lines. If the long-term recovery trend is maintained then maybe it is worth buying on further weakness? However, in the back of my mind I always wonder whether the company is just too small.
     
  10. Buyonthedips

    Buyonthedips Senior Investor

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    Too small to be a major player in the social media market. Also, the recent drop through support lines would indicate nine dollars is the next main support. I would not be buying this one just yet - if at all.
     
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