Let It $SNOW, Let It $SNOW, Let It $SNOW - Bullish above 342
Updated
I think Snowflake is finding some great support in the 315-340 range as the Gravestone Doji from its ATH of 429 played out.
Today (12/16/2020) it bounced nicely off of the 21-day moving average (purple on chart), and from here, I'm a buyer on the breakout above 342.
If the Nasdaq and market holds up, I see no reason why this can't rally back and get a new closing high in January 2021.
Today (12/16/2020) it bounced nicely off of the 21-day moving average (purple on chart), and from here, I'm a buyer on the breakout above 342.
If the Nasdaq and market holds up, I see no reason why this can't rally back and get a new closing high in January 2021.
Note
This idea provided a nice move right up to 360, however was quickly met with some fierce selling the last few days. Overall, liked the breakout but the lack of follow through is highly concerning.
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