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  • Swing Trade Idea (SNAP) – October 21, 2021

    Oct 21, 2021 Swing Options Tips Comments Off on Swing Trade Idea (SNAP) – October 21, 2021

    Our bullish trade for Thursday, Oct 21st is Snap (Snap). SNAP is part of the Technology Sector (XLK). XLK has experienced a 3.88% rally in the last month and its 6M trend turned bullish on Oct 15th.


    SNAP’s 1m and 6m trends turned bullish on Oct 14th and reports earnings after the close tomorrow Oct 21st. With a strong technical score of 9 out 10, SNAP is a strong stock that has a strong chance of beating earnings. 


    As a close, if SNAP were to trade below $70 for multiple days, this would invalidate our analysis and we would focus on cutting losses on the trade. We also would consider cutting losses on this options trade if the value of the vertical spread moves below $1.65.

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