Buying The Snap (SNAP) GAP

22 ก.ค. 2022

Yesterday, SNAP posted a negative earnings report that missed both the top and bottom lines. The overnight was devastating, as SNAP surrendered more than 30% of its marketshare.

Now, there is a key area in view:

GAP, $11.90-$11.11

Here's the trade:

1) Ahead of today's close, buy from $10.00
2) Profit target @ 11:50 within the GAP
3) Stop Loss beneath today's low @ close

This trade is a bit risky and requires holding over the weekend. However, given the selloff, we are likely to see a test of the GAP early next week.