Snapchat (SNAP) – Advertising Gains – October 7th, 2020

The bullish DailyPlay for Wednesday, October 7th is Snapchat (SNAP). SNAP has experienced a 19.12% rally over the past month and its 1M and 6m remain bullish.

Fundamental View

  • Daily active users are still growing at 17-20% YoY 
  • Projected revenue growth exceeding 30% YoY after 45% growth in 2019. 
  • Earnings Oct 20th in 14 days.

Technical View 

  • Rally above its $26 level, retest as support, provide further upside opportunity. 
  • Both 1M and 6M trends are bullish.
  • Very Strong technical score (10 out of 10).