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SNOWFLAKE INC CEDEAR EACH 30 REPR 1 COMSNOWFLAKE INC CEDEAR EACH 30 REPR 1 COMSNOWFLAKE INC CEDEAR EACH 30 REPR 1 COM

SNOWFLAKE INC CEDEAR EACH 30 REPR 1 COM

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SNOW trade ideas

SNOW may have found its bottomSNOW fell about 37% from ATH, a move that was catalyzed by the H&S break out. It is currently finding support for the 3rd consecutive day on the .786 fib retracement level. I added a few more shares to my position here with a very tight stop loss in case it continues to move down. Stochastic is curling up, which signals a potential change in the trend. Seems to the a good place to start a reversal, even if it turns out to be a slow one. ***If you get anything out of this TA, please like and follow for future updates and more TA. Thanks a lot!*** ***THE IDEAS SHARED HERE ARE MY OPINION. THIS IS NOT FINANCIAL ADVISE TO PLACE TRADES. PLEASE DO YOUR OWN RESEARCH AND ANALYSIS BEFORE BUYING/SELLING STOCKS.***
NYSE:SNOW
by Safe_Trades
13
Rocky road ahead for SNOW?SNOW is currently trading below its 9 EMA and forming a broadening triangle pattern on its chart. Current levels could be signalling a bull trap. Closest resistance is $290-$291 level. Considering the second lockup period ending on Thursday, it's safe to say that we may after all see some selling. However, keep a lookout for a break of $284, which would break the current pattern and retest resistance at $290. Don't worry if we see some selling as it could give us an opportunity for buying into the long-term. Short-term, the stock has to calm down. You could buy puts at market open as follows: For this week's expiration - BTO 8 Jan 2021 $260 Put (highest volume) ($1.5) For next week's expiration - BTO 15 Jan 2021 $260 Put (more expensive compared to weekly expiration) ($4.5) Both trades are equally high risk/reward Good luck trading!
NYSE:SNOWShort
by UnknownUnicorn10016235