A Trade A Day: SNAP

Michael Nauss CMT | StatsEdgeTrading

This idea comes from my favourite scans within trade-ideas. (Try it out HERE and use STATSEDGE for 15% off)

This scan looks for stocks that have performed the best over the last few days relative to the rest of the market.

SNAP 0.00%↑ has had a great push since earnings in May and has just been basing it ever since. Today, we had a strong breakout over the AVWAP from that earnings range.

The breakout today as large so we don’t want to chase this tomorrow. I will be zooming into 30-minute charts to find an area of support or a place to buy a breakout.