Search
Products
Community
Markets
News
Brokers
More
EN
Get started
Community
/
Ideas
/
SNOW pulls bak on Earnings Discount Sale
Snowflake Inc.
SNOW pulls bak on Earnings Discount Sale
By AwesomeAvani
Follow
Follow
Updated
May 31, 2023
4
Cheer
Cheer
May 26, 2023
SNOW on the daily chart pulled back from decent earnings to in a massive bearish candle down
into its intermediate-term fair value zone near to the mean anchored VWAP and the POC line
of the volume profile. It is entirely possible that many traders sold SNOW at its highs when
they got FOMO over NVDA and needed to free capital to get more cash in their accounts
after buying NVDA . This could have easily helped SNOW go down despite decent earnings.
No matter if SNOW is on sale, I will buy it now setting a stop loss @ $145.00 and watch for
a Fibonacci-style retracement halfway back to the Pirvot high from which it fell for a first
the target of $ 170, a second of $180 ( one third of the position for each) and the final at
$170. In the meanwhile, I have a position on NVDA to play a possible drop.
May 26, 2023
Trade active
Price up 4 % while call options hit 18 % trending up
May 30, 2023
Trade active
Options now up 110% looking good. Bought the dip. Will hold another day before starting to take partials tomorrow over the remainder of the week.
May 31, 2023
Trade active
Starting to draw down the position and realize the profits. Price action still up.
AI
anchoredvwap
Beyond Technical Analysis
cloudtrading
earningsplay
Fibonacci
Fibonacci Retracement
NVDA
SNOW
volumeprofileanalysis
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the
Terms of Use
.