That Time We Shorted (SNAP) Snap Inc - Technical Analysis, Trade Recap!!
Snapchat is a free messaging and social networking app for smartphones. Available for both Android and iOS, Snapchat allows you to send text messages, pictures, and short videos to friends and family. What makes Snapchat unique is that most of these messages are temporary. For example, after someone views a photo or video you’ve shared, it will disappear and cannot be viewed again.

A Brief History of SnapChat
Snapchat is a multimedia messaging app that allows users to send photos, videos, and messages to their friends and family. The app was created by Evan Spiegel, Bobby Murphy, and Reggie Brown in 2011, and has grown to become one of the most popular social media platforms in the world, with over 200 million daily active users.
The history of Snapchat can be traced back to 2011, when Spiegel, Murphy, and Brown, who were students at Stanford University, developed an app called Picaboo. The app allowed users to take and share photos that would automatically be deleted after a certain amount of time, and quickly gained popularity among college students.
In 2012, the app was relaunched as Snapchat, and the company began to expand its user base and add new features. The app added support for video messaging, as well as filters and lenses that allowed users to alter and augment their photos and videos in creative ways.
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In the following years, Snapchat continued to grow and evolve, and became known for its innovative and engaging features. The app added support for live video streaming, and also introduced a feature called Stories, which allowed users to share photos and videos that would be visible to their friends for 24 hours.
Today, Snapchat is one of the most popular social media platforms in the world, and is known for its unique and engaging content. The app continues to innovate and add new features, and is widely used by people of all ages for communication, entertainment, and self-expression. Despite challenges from competitors, Snapchat remains a vibrant and dynamic platform.
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That Time We Shorted (SOCL) Global X Social Media ETF – Technical Analysis, Trade Recap!!
SOCL tracks a modified market-cap-weighted index of social media companies selected by a committee. SOCL Factset Analytics Insight SOCL is the first ETF on the market that focuses on social media.
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Read Moreespecially right here
right here in 2018 you know it it’s not a completely horrible idea to
have invested because it would have been at its trend support see this green line tracing right through here support
support you would only know that of course in hindsight though but you would buy here and then typically sell right
when it’s touching its trend resistance which just so happens in this specific example to be a downward trending price
channel it then broke the resistance on that down returning price channel
look here’s your weekly 180 moving average we were talking about how young
companies their indicators you know it takes time for the indicators to like get up and running let’s go
but here’s your 180. you could imagine it looks a little something like
this if it were to be displayed on the screen there you go a little extendo for
you so as it started to rise here it went up pushed up as we were talking about in
that climbing model we were talking about earlier pushed up tested the weekly 180 moving average as
a support it seemed to have hold it went up you had this resistance here struggled
went back down again we’re back in this pocket here by the weekly 180 and then from there it’s
just been astronomical to be fair um you can’t really describe this as anything else this something about this really
doesn’t sit right with me you see things like this and it it’s too good to be true it’s almost
like a uh gme scenario what is it about this company
that oh my god i didn’t even look at market capital now don’t look guys don’t don’t look it makes no sense um
what is it about this company that’s burning money at a rate of triple digits per year
it’s so bad it’s so bad um god it’s so bad
what is it about this company that caused it to run nine times its original value as
compared to march 2020. what happened in this time period it’s
ridiculously overvalued um
i guess you could say analysts went soft with the expectations never look at an analyst expectation
make sure you’re looking at the actual flow of cash in and out of a company represented by these bars and lines here
snapchat it does not offer a dividend so uh no dividends for you
it had a volume on the day of 18 million with an average volume of 20 million looks like
average i mean i don’t know that’s pretty average um look at the market cap though 112
billion with a b [Music] that’s bigger than the last
that’s gigantic what was twitter at
you guys liking the video tell me boys is snapchat really worth three times the valuation of twitter
what’s happening on snapchat that i don’t know about are they selling uh shirts i
i i don’t know not with profit margins like these
nearly three times to be completely 112 billion dollar that’s wild
wild absolutely wild that’s unexplainable it looks a little bit artificial um
and unless uh you’re the guy pulling the levers i’d stay far away from it um
like just look at this one candle right here what about this looks natural what about
this candle right here looks natural nothing that singular candle we’re on a weekly
chart that singular candle represented 34 what about that is natural explain that
to me
you can’t so personally keep in mind the video was filmed
october 5th 2021 is gonna be a doom fest when it breaks below its weekly 20
moving average which it tends to be sitting at right now so if
the next two or three days aren’t looking good for snapchat you could see it pull back as much as
59 to its weekly 180 moving average
it’s not where i want to be guys not where i want to be there’s so many better companies so many better companies today’s topic social media yes
um it’s okay i think i
think we got maybe one let’s do another one
most important parts coming up most important part that’s the projection that’s the forward
moving stuff
you
boom wait wait i just want to know one more thing before we go to the next one
look at the line it’s the most important line well you’re about to see
look at this yellow line here right so video was filmed at 71.23 if you’re in
the discord you might have been in sooner make sure to join the discord again my name is ethan ren if you don’t follow
already make sure to hit that follow button go to ethernet.com we are currently streaming on youtube facebook
twitch twitter yeah twitter um and maybe one other site um you know so
make sure you’re following if you want to stay up to date with all the latest news again if you watch the video 71-23
we have this yellow line right here at around that 56 dollar price point
as you can see a bit of a price channel you’re about to find out more about that um if you’re in the discord you would have known even sooner
boom part two part two ah spoilers spoilers oh oh no spoilers okay
stock market plan how are you doing is there any it’s another great video if you haven’t seen this video i love this
video how are you doing is there anything in particular you would like to see or is there anything you would like to share with the stream
no i was just uh looking at um facebook earnings tonight man and the
first video that you just watched uploaded october 5th this one was uploaded october
25th so this is 20 days later right just 20 days later
i mean so i don’t know we just have to see how it turns out tomorrow why why did we talk
about this you’re about to find out a gentleman from chat actually joined and had questions about the specific symbol
yeah they reported today right after the close like 15 minutes after the close and
you know it’s you know snapchat started the trend right where we’re hearing advertisement
dollars are not as wide far and wide as they were and especially looking forward like they’re
forward-looking statements from snapchat they were like you know a little bit more cautious and yeah they had a problem with
the regulatory aspect of apple that you know apple is a big platform right we
all you know that they depend on that right a big a big hardware supplier for
their platform and you know i guess they’re getting the raw end of the stick from apple and that’s
hurting them a little bit but i think it’s more it’s it’s not only that but there’s more to it me and i was like
wanted to discuss it with you guys because i think there’s more to it feels like it
okay so
was it a theoretical hit or miss uh i do have a bunch of like like like for
instance like snapchat right like snapchat yes i do have a bunch of highlights for social media companies
that were filmed less than 20 days before this one i mean
that’s and i looked at snapchat i have it i’ve had it on my watch list for the better part of like two months
it’s not a bad fundamentally fundamentally the stock is pretty damn good actually it’s kind of like one of
the leaders of the group [Music]
oh my god i think there’s like there’s something more of this story something else is going on
some more that’s just a hefty ass drop man at 24. that that’s massive
from one for like slightly missing an earnings report
okay i think i’m okay i think i’m okay you’re all right man
oh no you know i just won’t bump my head got a little lightheaded there for a second oh gee
gee dude do you happen to watch any of my highlights fam
no don’t say that check it out stop stop saying bro what are you doing
oh did you i don’t know about a week or two how long ago about a week ago
yeah
so it’s very current i really recommend look looking at the highlights available
we we covered snapchat notice how part two of this video we just clicked into the chart i didn’t make any changes
since that previous video was filmed no changes were made went all the way from that 70
one to 75 price point boom all the way down to 54. exactly to the penny
pinpoint accuracy sniper aim out here
i’ve clicked into this chart this was such a great stream by the way there were two people from chat who who came
through to talk to me i love that stream you guys are welcome to do that anytime bro i just want that to be known for the
record for the record yep for the record i did not make any
changes on this chart everything was already in place from the previous video
[Music]
there it is there it is boys a week ago about a week ago a week ago
wait wait wait stop ethan stop stop eating snap there’s snap right there
uh make sure to go watch the highlight if you want an in-depth uh take on snapchat
i don’t want to go too in-depth but we are recognizing it’s not so great earnings
it’s unfortunate lapse in judgment
the question oh i’m i’m not a i’m not a fan one way or the other it’s just it was just i don’t think they miss warren
the miss wasn’t a 24 drop in stock kind of miss i don’t know i think there’s something else there
or someone or someone else there
i mean fundamentally i don’t see anything wrong with the numbers i mean
okay okay they’re being consistent consistent
for the year of 2020 has so far reported a negative 37.69
profit margin here’s a perfect example here’s a perf make sure you’re following guys if you’re watching and not
following you better follow here’s a perfect example of a company that’s not necessarily profitable doesn’t make that
much money it they had this crazy pivot point in year 2020 if you’re in the
discord we’re not going to get into all that but
snapchat’s not necessarily a profitable company neither is twitter they struggle to make
profit um it’s more common for the companies like
twitter and snap to lose money than it is for them to gain money uh so if you were to be buying something
that would potentially grow in value over time you really want to see that profit
margin in the green so even on a technical and fundamental level
i just quite i feel that snap was completed at that
at the time and i think markets have agreed the rsi
was somewhere now it’s somewhere else see how the rsi had been like peeking
out still in this video i have not made a single change to this chart from the last video the projection of that
negative 67 exact same spot from the previous video that yellow line exact same spot funny hot when
like direct route direct flight no left right no if ands or butts boom it was right there
crazy a year’s growth guys march 20
to september 2021 900 it’s a recognizable name it’s a
household name everybody knows it everybody talks about it everyone’s heard of it um
that’s really you’ll see what all this is leading into a second but here’s a quick spoiler
yeah well it’s it’s you know it’s obvious you know yeah everyone knows it but at the
same time their cash inverse cash out isn’t very
great now notice how i had this notice how i had this price channel line
this yellow line has been here since that last stream go look at the
highlight guys go look at the highlight go look at the highlight it’s still at
twitch and it’s also available with youtube go watch the highlight have
your mind blown so isn’t it funny how the stock fell to exactly
the the price point of the yellow line can somebody explain this to me how does this happen guys
how does this happen more sellers than buyers
no the exact price point is what we’re talking about these are coincidences fam
like i’d i hadn’t even looked at this in 48 hours because the stuff i do is
like very uh very macro it’s very global macro it’s very
big picture very big picture as you can see right next to uh snapchat i hope you guys see it right next to snapchat
there’s the social x globalx social media etf and we’ve also
been flagging in there for a very long period of time now go
go look at the highlights we’ve we covered not only snapchat we we covered
google we covered the social media index as a whole recognizing the bear flag
we’re gonna get there we’re gonna get there in a second facebook we cover all of these things we were scaling out of about a week ago
that’s wild though that not only did it tank an umps an
obscene amount after a fairly growing and obscene amount
but it is quite weird how it lined up perfectly with that yellow line that was
already in there from the video
makes makes you think makes you think i’m gonna let this video run for a second it’s a great video if you haven’t
seen it you need to see it you need to see it so watch the video um be right back this was watershed as something
that was more of a global market shift global market change an overvaluation in tech as a whole
but we then narrowed it even more it it started with a live stream that was
generally tech based we then covered the tech etf then we went to the subdivision of social
social media which is what we’re looking at right here in front of us
right here this socl ticker guys go check it out feel free to type it in one
of the discord channels but we were identifying all of these things that had their rsis peeking out
simultaneously and this just doesn’t happen at this like simultaneous it’s it’s so wild um
so being the global macro perspective it’s i’m not picking on one company i’m
not it i have nothing against snapchat actually in fact snapchat business has once like
they called me it was weird
let me tell you about customer service i’m a bit of a stickler for customer service if your company doesn’t have good customer service
uh i’m gonna say it um that being said uh i i have like you know a clothing
brand make sure to go check out ethernet.com if you guys are new here again my name is ethan go to ethernet.com from there you can find
links to all my various socials make sure you are following make sure you are following um there’s also links below to
all those socials again we have our youtube twitter facebook instagram we’re there go find us make sure you’re up
today with all the latest information um
i forgot where i was let’s expand this a bit
where where was i bull option trader or stock market plan where was it
you were talking to it yeah
you’re talking about how that price hit that yellow line and how you’re going over your social media and then things
were trending down or you’re looking at overpriced social media
i wonder what the implied volatility of this month was are you able to tell me real quick um
do you have it in front of you because i know i’d also be curious trading we don’t have that listed
here’s the monthly look at this price channel guys what do you what do we think what do we think
are we building pyramids out here what’s happening there was such an astronomical growth
leading in leading into this push that i mean it’s only natural i don’t know
am i am i right guys or am i right
i know i still feel like there’s something underlying that we’re gonna find out later
i mean i hear what you’re saying about everything you’ve explained and you know i’ll check out the highlights for sure
maybe the reason is on the lying in the highlights but i mean um maybe
it’s just i mean this this this you know i i don’t i don’t
i don’t need to understand it first of all because i’m not one to get into understanding things i just follow the trend but even the trend on this thing
you just explained it good gravy man from freaking i’m from fiction like if you go
back for 14 months shoot i mean it’s just been a steady steady climb all the way up
other than the cove the cover break on uh on uh you know but even that it just shut it off like
like like nothing i mean look at this but anyways it is what it is look at the social ticker
or symbol right next to the snapchat symbol um that’s a general market etf for it
it’s like a basket of social media related things um i think yeah
it can be used as a decent indicator to see where the just
social media companies in general are kind of lining up what i’m going to be most curious to see about this company
is if this trend line we’re looking at
remains where it’s at yeah yeah and these are you know be careful
not to name this just social media this is also in the internet content space
i mean so you know when you look at that space yeah it’s got a lot of internet content
into it built into it i mean it’s you know along with google and all that the content
that they aren’t the content but we are the content me and you yeah we are i know
we are you know but it’s still content right uh just so you guys know we are live on not
only on twitch we are also live on youtube and we are also live on twitter and we are also live on d live
simultaneously right now just so you guys know um that’s pretty
sick isn’t it it takes a lot of work man it takes a lot of work
i think it does you know whether we’re putting the content in in this case or or somebody
else it’s still content yeah but you know this this knock is going to get grouped a little bit with that space too
yeah i mean but look look at even the thumbnail like i don’t even really want
to click into uh
i don’t i don’t even really want to watch out this watch this whole thing right now
i didn’t want to drag it out anyways yeah exactly i just think i just think a
24 drop i’ve been doing this for a long time dude that’s that’s pretty sick that’s a
pretty sick drop that’s like a co just smashing our car and kill two people type of drop
i mean that’s that’s insane you know what i just i don’t think it
weren’t even better you know it’s even better go look at the 20 drop facebook head
at one time okay when they reported one of their earnings it might have been a hit or a miss but
wait a minute wait a minute i i talk about it in in the highlights uh facebook has once done the exact same
thing what an enormous coincidence let’s see
i mean the monthly rsi was only like 80. and keep in mind guys we’re currently going over
what we were trading six months ago how that went over the past six months
where we are now and where we’re gonna be going long stream today long stream today again this video was filmed
october 25th 20 days before the last video we just watched and then again just
we’re going to talk about this after but just a little spoiler of what happened uh after this video
something related so i was in a singular company this was an entire sector move
and we’re going to hit on every one of those notes for you you know no no i’m not saying that i’m not saying that
i’m not saying that at all um
let me see here what day did you say that was julian what eight days ago
no no no on facebook you got to see a way before it june 18th 2018 something
like that you said yeah gotta see your way before it happens right there i don’t predicted it
you only witnessed it it takes time for like to go from the planning process of finding these things in the discord to
filming them highlighting them and then distributing them it takes a lot of time so i really
hope you guys appreciate it and it really means the world to me when you guys like come out and show
support like this um is there another oh yeah man is there another company we’d like to
look at any any recommendations chat anyone from the discord
so from this point forward it’s mainly them two talking
as you can see we don’t really need to go through that you guys kind of got the idea you kind
of got the idea um again he’s going to talk about den
and the cash flow and the cash flows year over year and talk about cash flow it’s fine so
you guys now watch the part one video the part two video i’m getting started all the way up in that 71 72 73 dollar
price point where is it today guys where is it today how did that go over the past six months again you guys like
ethan he’s he’s taking a month off streaming he must be dead he must be dead yeah the dude must be so underwater
he just no this is the current price point today
again three weeks ago ish it went all the way again we made this
video right here at the very top why am i on that side here
we made this video right here in this candle one month later two months later three months later four months later
five six seven eight nine ten months later here we are here we are you you could have just
shorted at the top and slept in every day every day you would have never had to wake up
your money would have been working for you your time is your most valuable asset you know
um these these bigger picture big time frame monthly weekly candles that’s
where you want to be trading you got to be patient these things do not happen overnight these do not happen overnight
if you want to get the biggest moves you need to be playing with the biggest candles with the biggest people um
i don’t do that five minute stuff stay away from that [Music]
it couldn’t have gone more beautifully and again just to recap this is after us talking about ewy was
peeking out south korea ewj was peeking out japan v-e-a-v-e-u
major market vanguard indexes with underlyings from all over all over these are all happening simultaneously this
does not happen by accident how many times we’ve got to cover this like if i just showed you one of these home to be like oh okay dumb luck whatever no dude
back to back to back hit after hit after hit if you go to this social media video again we’re about to even go more in
depth on social media the video where i’m wearing this anti-social social club
hoodie we cover like you know we used to like do like eight to ten symbols in a singular
stream then i’d highlight it about 10 minutes each every single one of those hit
every single one of those hit we’re talking about monthlies big time frames every single one of
those hit it’s crazy like that’s not an accident that’s not luck
that’s just knowledge of how these things work how these things work like
it’s a master at work

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That Time We Shorted (SNAP) Snap Inc - Technical Analysis, Trade Recap!!
Snapchat is a free messaging and social networking app for smartphones. Available for both Android and iOS, Snapchat allows you to send text messages, pictures, and short videos to friends and family. What makes Snapchat unique is that most of these messages are temporary. For example, after someone views a photo or video you’ve shared, it will disappear and cannot be viewed again.
Pingback: (DIA, YM1!) SPDR Dow Jones Industrial Average ETF and Futures - Analysis, Market Index! - Ethan Wrenn
Your article helped me a lot, is there any more related content? Thanks!