I've made a discovery PLTR and SNOW continue to mirror one another. They both have fractals on the lower time frame. This usually signals that we're heading up. The month of April is quickly coming to a close. April seasonality is great for there stock market. With the wave of stocks announcing earnings at the end of the month we should continue to see more rallies. However I'm very pessimistic about the outcome of the stock market after the month of April.
SNOW trade ideas
Potential upside on SNOWFormation of an inverse head and shoulders pattern on the daily chart - a bullish chart pattern.
Looking to long if it closes above 241.59 and if there is a spike in volume.
Another thing to note is that 9EMA is about to cross above 21EMA, a sign that short term bearish trend is about to turn bullish.
PT1: 250.62
PT2: 254.59
PT3: 264
$SNOW Imminent EMA crossSNOW has been beaten down below IPO price and has completed a descending trend, looking to break out. A daily 8EMA to 21EMA crossover should indicate A bullish move towards some upside. Even if this move is just a corrective wave with more downside, the trend will push this to the .618 and decide what to do from there. Looking to add longs if it moves over 242.67 and holds that level. The move above should come quick too, using the VWAP from the highs as a magnet.
Should I buy Coinbase tomorrow?I know this could be a totally different story, but it is good to review this post!
If you are an active trader:
I believe no matter what is the opening price for Coinbase tomorrow, it could be possible to buy it at a lower price the day after tomorrow..! if you have doubts, check the biggest companies opening days!
If you are a long-term investor: you have to be more careful, in most cases, the opening day bubble will bust in a couple of months.
Even the biggest tech companies like Facebook had experienced the same story!
please check my previous post about the opening day of BMBL.
Similar patterns PLTR vs SNOW Both patterns can be characterized as irregular flats. Irregular flats can be framed using two trends lines both of which are pointing towards two different directions. Irregular flats can be hard to time. Thats why we rely on fractal patterns more specifically LDCs. LDC stands for lower degree correction. The general formula we use to understand markets is BF = first impulse + Elliot correction wave (ABC) + second impulse.
SNOW: Rising Wedge, Bearish Divergence, Hitting ResistanceDescription of thought process on the chart. Kinda 50-50 in confidence, since nothing in this market does what it's supposed to do :)
Can fall back if fails 242 test, long if closes above 244.
Let me know if you see different pattern/direction.
Not an investment advice.
SNOW 8/21 DMA cross setting on supply zone -Bullish Snow setting up for a big move here. 8-21 DMA cross just happened on the daily chart. Sitting right on the 233 support level. This one can move fast so if it can see volume it could be explosive. Growth stocks were crushed in March so maybe we see a nice reversal here. Buy some time and looking at 250 calls for later April.
SNOW - 4H - SHORT TERM BREAKOUTSHORT TERM BREAKOUT AS FIBONACCI LEVELS CAN BE RETRACED TO 0.38 AT WHICH POINT PROFIT CAN BE TAKEN, UNLESS IT PASSES TO 0.5 WHICH WIL IMPLY BREAK OF THE DOWNWARD TREND FOR FURTHER RISE IN PRICE, BULLISH ENGULFING CANDLES ALSO SIGNIFIES A CHANGE IN THE STOCK DIRECTION. THIS COULD PLAY OUT ALL THE WAY TO THE 200DMA