SNOW -Short term bearish, long term bullish
I was very bullish on SNOW until I realized a few things.
1. Decreasing volume on daily
2. Weak RSI
3. Strong resistance at triangle around $145, both daily and weekly closing below it.
Expectation...
Currently basing $140-$144.
Breakout to the upside WITH VOLUME and I'm looking for $158.
Breakdown of $140 I'm not touching until $125 backtest.
1. Decreasing volume on daily
2. Weak RSI
3. Strong resistance at triangle around $145, both daily and weekly closing below it.
Expectation...
Currently basing $140-$144.
Breakout to the upside WITH VOLUME and I'm looking for $158.
Breakdown of $140 I'm not touching until $125 backtest.
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.