Could SNAP Stock Price Snap Up a Profitable Opportunity?

Snap Inc. (SNAP) has been on an absolute tear lately. The company recently released its blockbuster Q4 earnings report and the stock price has skyrocketed since then. Now, there is reason to believe that this could be a very profitable opportunity for investors, as the stock price has jumped above its Bollinger Band. The company released its Q4 report on February 4th and the stock price had already risen more than 8 percent at the start of the trading day. However, the stock’s momentum kept pushing it higher, closing the trading day above its Bollinger Band. This could provide an attractive buying opportunity for investors that are looking to capitalize on the positive momentum in the near-term. Bollinger Bands are a technical indicator used by traders to determine the prices at which a stock is overbought or oversold. When the price of a stock crosses above its Upper Band, it is generally considered an overbought condition. Therefore, investors may see this as an attractive buying opportunity as there is potential for the stock price to consolidate and even pullback to a lower price. The analysis doesn’t stop there. Snap has seen an impressive surge in user engagement and revenue over the last year. Last quarter, the company reported nearly 400 million daily active users, a 12 percent increase year-over-year. Also, the company’s revenue jumped 48 percent year-over-year to $911 million, further supporting the stock surge. Given the company’s strong fundamentals and technical indicators, Snap Inc. (SNAP) may be an attractive buying opportunity for investors. The stock’s recent rise above its Bollinger Band is a signal that the trend of the stock is still up and this could be a great opportunity for investors to get in on this well performing stock. Investors should take a closer look at Snap before jumping in and should consult with a financial advisor for advice and guidance.