Snapchat Stock Forecast – Time to Buy or Sell?

snapchat stock forcast

Snapchat stock prices reached a new 52-week high after yesterday’s trading session and added more than 16.5% in value since the beginning of this year. Snap shares are up 0.3% pre-market to $19.15, but dipped when the markets opened. Earlier, UBS analysts raised the recommendation for Snap Inc shares, expecting a positive impetus for business in 2020. A report for the past quarter will be published in early February. Last week Snap Inc. shares grew by 6.17%. The S&P 500 index for the same period increased by 1.18%.

Why did Snapchat stock price reach new highs?

  • Bank of America raised its target price on SNAP from $18 to $22, saying the company “still has a big opportunity ahead with a growing Millennial / Gen Z user base” which prefers Snapchat over other social media.
  • Analyst Justin Post predicts an opportunity for more international growth of users.
  • More advertisers see Snapchat as an opportunity. This translates to more money.

Today, investors are still focused on the Davos Forum. The emphasis of speeches by American officials is gradually shifting towards a trade confrontation with the EU: they are clearly trying to put pressure on European partners to conclude a new trade deal. Yesterday, US President Donald trump said about the possibility of introducing tariffs on European cars and other exports in the event that negotiations fail. Today, the same was confirmed by US Secretary of Commerce Wilbur Ross. Currently, the main reason for the disagreement is that Brussels does not want to buy a large amount of American agricultural products, which Washington insists. In addition, the US is dissatisfied with the attempt to introduce the European digital tax, which mainly affects the interests of the US IT giants.

Oil quotes made a weak attempt to decline. Prices are pressured by several factors. Investors fear a reduction in energy consumption, primarily because Chinese citizens may refuse to travel during the New Year in connection with the spread of a new deadly coronavirus. A similar situation was already observed during the 2002-03 epidemic, which slowed down the region’s economic growth. In addition, the price is pressured by API data, according to which the volume of oil reserves in the United States grew by another 1.600 million barrels. In the evening, investors are waiting for the EIA report. Crude oil is projected to decline by 1.009 million barrels. Realization of the forecast can provide support to prices.

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Snap chat stock price chart SNAP

Snapchat Stock Support and Resistance

The Snapchat stock continues to demonstrate a steady uptrend. #SNAP quotes broke the key highs and consolidated above them. At the moment, the company’s shares are testing the resistance level of 19.50. The level of 18.00 acts as a “mirror” support. Nevertheless, in the near future, technical correction of the trading instrument is not ruled out. Indicators signal the strength of buyers: the price has fixed above MA (50) and MA (200); MACD is in the positive zone. It is better to open the positions from the key levels.
Resistance levels: 19.50.
Support levels: 18.00, 17.00, 15.70.

Snapchat Stock Trading Ideas

Long positions may be opened after the price consolidates above the level of 19.50. The closing of the profitable positions is possible in parts at 20.50, 21.50 and 22.00. Stop loss – 18.50. Short positions may be opened after the price consolidates below the level of 18.00 with the targets at 16.50–15.50. Stop loss – 19.00. Implementation period: 3 days.

Snapchat Stock Price Recommendations

Jan-17-20 Upgrade UBS Neutral → Buy $16 → $24
Jan-10-20 Initiated Bernstein Outperform
Jan-09-20 Upgrade Jefferies Hold → Buy $21
Jan-09-20 Upgrade Cowen Market Perform → Outperform $16 → $20
Dec-13-19 Upgrade JMP Securities Mkt Perform → Mkt Outperform $20
Nov-25-19 Upgrade Loop Capital Hold → Buy $20
Oct-23-19 Upgrade Needham Underperform → Hold
Oct-23-19 Upgrade JP Morgan Neutral → Overweight $17 → $20
Oct-18-19 Upgrade BofA/Merrill Neutral → Buy $18
Oct-18-19 Initiated MKM Partners Neutral $16
Oct-04-19 Upgrade Morgan Stanley Underweight → Equal-Weight $14 → $17
Oct-01-19 Reiterated MoffettNathanson Neutral $11 → $14
Sep-24-19 Upgrade Guggenheim Neutral → Buy $22
Sep-24-19 Reiterated Aegis Capital Buy $19 → $24
Sep-17-19 Upgrade Susquehanna Negative → Neutral $12 → $18
Sep-03-19 Upgrade Evercore ISI In-line → Outperform
Jul-24-19 Upgrade UBS Sell → Neutral $8 → $16
Jul-24-19 Reiterated Canaccord Genuity Hold $13 → $17
Jul-24-19 Reiterated Aegis Capital Buy $17 → $19
Jul-23-19 Upgrade Stifel Hold → Buy $13 → $17

Snapchat Stock Price Moving Averages – Strong Buy

Name Value Action
Exponential Moving Average (5) 18.74 Buy
Simple Moving Average (5) 18.73 Buy
Exponential Moving Average (10) 18.21 Buy
Simple Moving Average (10) 18.11 Buy
Exponential Moving Average (20) 17.42 Buy
Simple Moving Average (20) 17.19 Buy
Exponential Moving Average (30) 16.89 Buy
Simple Moving Average (30) 16.41 Buy
Exponential Moving Average (50) 16.30 Buy
Simple Moving Average (50) 15.78 Buy
Exponential Moving Average (100) 15.59 Buy
Simple Moving Average (100) 15.47 Buy
Exponential Moving Average (200) 14.51 Buy
Simple Moving Average (200) 14.64 Buy
Ichimoku Cloud Base Line (9, 26, 52, 26) 17.06 Neutral
Volume Weighted Moving Average (20) 17.44 Buy
Hull Moving Average (9) 19.27 Sell

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