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

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

  1. Chartman

    Chartman Senior Investor

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    Looks like Snapchat is back in the technology fold :)
     
  2. gowiththeflow

    gowiththeflow Senior Investor

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    Short term bounce looks good and there could be further to go but I am not convinced about the fundamentals of this one. What does everyone else think?
     
  3. longtermbull

    longtermbull Administrator Staff Member

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    It will most likely benefit while the market it riding high and the "skies are blue" but when the market turns down I think stocks such as Snap will be the first to suffer.
     
  4. heretodaygonetomorrow

    heretodaygonetomorrow Member

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    I looked to trade this when it came to the market but the price and the valuation were way too hot for me. I would consider trading this stock but not at the moment - I think markets are too high and stocks like this will be hit when profit takers step in, as they surely will?
     
  5. gowiththeflow

    gowiththeflow Senior Investor

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    Short term traders are churning and burning this one!
     
  6. Chartman

    Chartman Senior Investor

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    Lot of potential crossovers on the chart - the next few days will be critical. We will soon know the short term trend :)

    I worry about the tech sector as a whole taking a breather. If this happens then SnapChat will tumble.
     
  7. longtermbull

    longtermbull Administrator Staff Member

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    They have revamped the service and the shares seem to be responding - time to take another look at Snap?
     
  8. Chartman

    Chartman Senior Investor

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    I think the short term spike in the share price will attract stale bears who bought in much higher up. Long term a lot will depend on how successful competitors such as FB are in copying the concept.
     
  9. longtermbull

    longtermbull Administrator Staff Member

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    Looks like the revamp of the service has gone down well with investors and the next resistance level is around $17. Personally I would not be chasing this one as it is unclear when the company will actually make profit. Then again, they are not unique in the world of technology!
     
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