Current ETH structure 2.6.213 possible path i see playing out here. Manage your trade with possible structures.
Cloud
SNOW over 310.66Breakout from the bottom of this ascending channel but found resistance at the fib above and closed below the VPOC. Both will serve as resistance, entry over the high of day should see continuation.
TEAM over 240.26Relative strength on last week's market weakness, can break higher out of this descending broadening formation. Cloud/software/cyber security names looking strong into this week, we'll see if this sector gets rotation.
ZI over 50.23Really awesome setup here and this one is finally ready. Thin volume above the major fib at 51.58. Daily candle close breaking this major descending trendline.
DOCU under 222.30Shown on the weekly, at risk of breaking ascending channel. Can short down to VPOC as support. Watch QQQ for weakness before entering as it tends to follow.
SNOW READY FOR A BLIZZARD !1! Snow on the daily is getting squeezed by a bullish pennant . MACD is looking ready to flip along with squeeze momentum finally finishing its sell off. With declining sell volume as well and SNOW consistently holding up its long term support line we could see SNOW gap up to its first price target of $330. Along with the trend analysis as seen we also have to take into account NASDAQ:MSFT earnings report released today stating that they had a 17% revenue increase because of cloud business. The future is SaaS and SNOW is looking ready to snow some cash !
Ichimoku entry AYROexcluding today and a few days ago, this signal has triggered on this ticker 5 times since Dec 2019. Every single one has hit for at least 5% and most of them for over 10%. So either we're due for a big loss to appease the gods of balance, or we can have high hopes for this one!
SNOW over 293.19Elliott Wave analysis here indicates this will put in the third and most powerful impulsive wave soon with a first conservative target above. Count is invalidated below 279.10. Note that the projection here is the price level and the time this price is reached is not an exact part of the projection here.
DDOG to 120?DDOG - Currently in a a flat correction and looking for a breakout of the triangle to retest ath. With earnings approaching (mid February) we could see a nice run up to retest ATH. This company has shown strong growth and has generated great returns since its IPO in 2019, nearly quadrupling it's IPO price in 2020. DDOG reported a 61% increase in revenue for Q3 and an outlook of a 62% increase in the year of 2020. Trading Plan annotated in the chart.
Options Ideas
--------------------
110 C 1/29 (High risk: High reward) day trade option
120C C 2/12 (Medium Risk: High Reward) High OI
AYX - Triangle patternAlteryx, Inc. provides self-service data analytics software platform. Recorded bad earnings last quarter and has wild 15-20% swings. Short interest is 8.7 %. I like this triangle pattern to breakout, as in my last post MSFT will post good earnings and benefit tech stocks next week.
GDRX - Bullish pennant forming on dailyGoodrx is in the cloud software healthcare sector. Nice looking bullish pennant (lower highs , higher lows) on daily with over 28% short interest. Finviz has a $48 price target. Microsoft has earnings next week, so they should push all SaaS/Cloud stocks next week. Good luck!
Head in the cloudsCloudera has been consolidating near range highs and could be a breakout candidate. If the stock can hold above the 12.39 area over the coming weeks, the next move might be 16.
DT over 45.07Shown here on the weekly, a long base of consolidation which should launch it once a breakout is confirmed.
APXT (AvePoint) - LongAvePoint is "the largest data management solutions provider for the Microsoft cloud."
Reached the bottom line of the uptrend channel.
Might test again all-time high @17$
Stop @14$
FSLY over 91.11Looks ready to move up if it can clear this VPOC. Doesn't have to fill the gap to make this a worthwhile move.
Buy the dipPrice went back to the same level as it was when the TK cross occurred giving us an opportunity to add to our position
DT Long-term SetupDT should see a healthy pullback to the trendline, above the company which is consistently growing and recently became profitable should see exponential growth. The company recently announced new product updates and there is an entry into the cybersecurity field, a back of strong new customer additions, and solid ~36% ARR growth - making it a great long-term hold.
There is a gap to fill from the 45s to mid 46s, and there could be some struggling there. However, most technicals are pointing upwards and the stock looks like it's in great shape to move up. Short term PT is 45, 46. LT is 50, 56.1.
SNOW below 297.09As funds sell the big winners this may have more room down, thin volume that can find support around the 270.00 area.
