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$META Long (Cup and Handle Breakout)Over the last few weeks, the market has experienced severe volatility due to the Financial crisis, collapse in oil prices, and indexes getting slammed. However, the Growth areas of the market ($QQQ) and in particular Tech and Communication names have held up strong. $META, being one of the largest components of $XLC (along with $GOOG/$GOOGL), gapped up on ER into what we would refer to as a COD setup. The market has now given us a Cup and Handle breakout, along with a bullish momentum regime in the RSI, which we are using to justify a long position targeting the 230/230 area. We will be using the Jun16 230/235 Call Debit Spreads at 1.00 to capture this potential price movement. At 93 DTE, we have plenty of time to withstand consolidations along the way. We will cut with a stop below 185.
NASDAQ:METALong
by Howtoswingtrade
Snowflake: Snowed Under ❄️Snowflake seems to be snowed under with work. The share has a great deal to do, but is currently delaying the anticipated ascent, gradually sagging towards the support at $110.27. There is a 33% chance that the course might drop below this mark, thus developing wave alt.2 in turquoise earlier already. However, we primarily expect it to climb above the resistance at $205.66 first to lodge the top of wave x in magenta before moving downwards again. Wave 2 in turquoise should then return Snowflake below $205.66 and carry it below the support at $110.27, introducing fresh upwards movement afterward.
NYSE:SNOW
by MarketIntel
1
Amplitude: 2021 IPO Comeback Kid $AMPL $COIN $SNOWDoesn't look like there are many buyers for $AMPL, a peer of $COIN $SNOW 2020-2021 IPO cohorts, though business results look promising in the long-term. I'd say anything above $10 is a good entry for this as a long-term tech stock that can outperform in future cycles. Amplitude Inc (NASDAQ:AMPL) The 8 analysts offering 12-month price forecasts for Amplitude Inc have a median target of $17.50, with a high estimate of 20.00 and a low estimate of 15.00 . The median estimate represents a +32.28% increase from the last price of 13.23. In the chart above, I have 3 bullish scenarios. All 3 are negated if the price drops below $10 As of now, it looks like there's still a lot of post-IPO sell pressure and aside from price defense at $10 late this year, not much new insti investor interest. "We're so early!" - Famous Last Words
NASDAQ:AMPLLong
by Sticky9000
1
Snowflake - Fade Bears On Another Earnings DumpWhen it comes to tech stuff, I'm a contrarian and actually believe that Nasdaq is heading to 14,000+.However, as seen in my call below, I'm still expecting more of a bear trap than we've currently had. Nasdaq NQ QQQ - Reality Will Be a Tough Pill for Permabears I simply don't believe that, based on the price action of the markets over the last 6 and 8 months, that wobbly fundamentals and the Federal Reserve continuing to hike rates is going to be what crashes the market. All markets act like they bottomed in October and November of 2022, which to me says that prices must go higher. That being said, I also believe that a severe market crash lies ahead in the future, but I believe that the timing for it to unfold is July or August of this year. I also believe that geopolitical issues will be what cause the crash, not the Fed, and there are a number of them: 1. The Chinese Communist Party has lost millions of people to Wuhan Pneumonia. The situation is so much worse than the 90,000 deaths the lying communist regime claims that it's scary. This ultimately leads to China's infrastructure, military, law enforcement, and the Party itself being extremely weak. 2. Russia v Ukraine is set to escalate shortly, and the war isn't one bit "Russia v Ukraine," it's Russia versus the U.S.-led NATO block 3. Natural, manmade, and environmental disasters abound in this world and go unreported. One day, one of them will hit the United States and it will shock the markets. But the big one is #1. The fundamental problem for the world is everything about the world's oldest country right now revolves around the CCP's almost 24-year-long persecution of Falun Gong meditation. The Party has killed so many practitioners for their spiritual beliefs, and even committed the unprecedented sin of live organ harvesting, a sin that even Nero didn't commit in the persecution of Christians 2,000 years ago. Because Wall Street and the governments around the world have been providing financial, material, and political support to the regime over the entire course of the 24 year persecution, this inherently means that when the CCP falls and all the skeletons come out of the closet, you're going to have a hard time finding a place in the world that has clean hands. When that unfolds, it will really be hard for the market makers to keep making the market. The house of cards will really crumble. Educate yourself on the topic and go see Shen Yun when it performs in your area and see what China's dynasties were really like. As for the call, Snowflake had some good earnings but cut its growth outlook. This is a stock that trades in these really wide $40 and $50 ranges and has a Tesla-style volatility. Nonetheless, we're down 7% in postmarket and it should dump even further than that tomorrow when the markets open. We can tell from the long term price action that January's low was a clear stop raid, which turned around and took out two big daily pivots. It's a little early, being the very beginning of March, for a new LOY to be set, in my opinion. But it's not too early to bear trap and liquidate longs. What I'm really looking to see is the $130 - $135 range in conjunction with the Nasdaq hitting 11,500 range. This price corresponds with the 79% retrace and is a big discount to overall range equilibrium since Snowflake dumped from its COVID pump mania highs. Target to the upside would be $185, taking out the October pivot. Hard not to like a $50 move on a $130 stock. You want to buy red and sell green, but this gets hard when red is followed by red and green is followed by green. All and all, I still say fade the bear hype. When the doom really comes to these markets, it's going to catch everyone off guard. It's not going to come at a time when the Fed has slowed hiking to 0.25% and CPI is only printing 6%.
NYSE:SNOW
by LordWrymouth
Intuit: Trust Your Gut 😊After it had started the ongoing descent so confidently at first, Intuit has been struggling in a sidewards movement. Now, the share should trust its gut and decide or rather intuit – pardon the pun! – to continue its journey to the south. We expect the course to drop below the support at $339.36, where it should complete wave B in green at about $303.29 before taking off again. Alternatively, Intuit could have already finished wave alt.B in green and thus climb above the resistance at $457.94 by now. We rate this alternative scenario with a probability of 38%.
NASDAQ:INTU
by MarketIntel
Nvidia Sell SignalNvidia just put in a reversal signal on the Daily chart as it hit major resistance. This semiconductor has been a powerhouse mover and has single handily been lifting the Semis sector higher. Now that this stock may show some near term sell pressure we could see the sector as a whole pullback. The only thing that Im being mindful of when it comes to NVDA is that it has yet to report earnings. As a technical analyst I'm a bit dissatisfied that Nvidia came so close to filling the technical daily gap at 230.46 but never managed to fill it which leads me to think there may be a possibility it has 1 more gasp at a rally to fill the gap before rolling over. None the less distribution is being observed in a time when yields and dollar may be spiking again.
NASDAQ:NVDAShort
by Trading-Capital
3