$SNOW Trying to Break-Out
SNOW as of today has tested the breakout / resistance area Six times in the last 9 trading sessions. Today it tried again but it is hard to fight the market trend. However, the more it tests this area the more likely it is to successfully breakout. As always, there is no guarantee that it will or will continue higher.I am long this name at 186.90 and have a stop just below the most recent low @ 175.25. Once it breaks out and holds, I will use a trailing stop on the 21 EMA (green). It will need to close convincingly under the 21 EMA. Let’s see what happens.
If you like this idea, please make sure it fits your trading plan.
Note
Above I said the trailing stop would be the 21 EMA , green. Correction, I am using the 20 EMA and on this chart it is blue. Sorry for any confusion. Trade active
SNOW I just added to this position @ 191.48 to bring it up to a 3/4 size position. Stop on this add will be LOD.
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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.