SNOW - Puts!Rounded double top here and I will be looking to trade this to the 234.50 level and perhaps 220 if 234.50 cannot hold as support.
SNOW trade ideas
$SNOW shows an inversed Head & Shoulders bullish long-termWe can see how an inversed shoulder-head-shoulder is being created. If confirmed the price could go as up as aprox 290$. RSI does not show any interesting view, but we can see a down trend right there in the last few days; in this line, MA (9) is falling,but I consider is just momentum. Moreover, $SNOW is reaching to its floor, so it could activate buy alerts; in this line, MA (50) is below to its current price it could also work as a floor. If it does not break these floors, the stock has two target price (showed in the graph). Disclosure: I'm not long $SNOW. But starting to consider it.
Snow , Long entry Snow looks good:
May 27th was a big day on that solid move up backed with volume followed by a congestion period where sellers were seemingly nicely absorbed.
Then, looking at the last 3 sessions, June 17th had a nice volume validated move up , 18th we see sellers introduce some supply ( but nothing buyers were not able to handle as evidenced by lower wick and tighter day). And today we have a very positive sign of a low volume test, which further confirms that current supply is irradiated . A continued move up seems probable .
SNOW earningsSNOW has been around since 2012 but IPO'd last year in September at a higher valuation than its initial public offer of $120. The IPO valuation started at $245 on Sept 16 2020 with the high of that day going all the way to $319. It didn't take long to reach an ATH of $429 right around December 2020. Ever since the ATH it has been in a momentum downtrend spiral while early investors and institutions bank on retail. Without a surprise the Resistance level sits around $244, which is a psychological level for many retail investors who got in last year in Sept. A breakout of this level will keep retail enthusiastic and falling under the endowment effect where they believe this stock will now continue to go higher. Retail must be aware that there is a bull trap market profile supply level around $250 and must not fall for the breakout trade (unless for a quick scalp). Market profile demand is sitting around $214. With an earnings release tomorrow after market close it is best to sit on your hands and wait to see what price does. Keep in mind that volatility is always the highest the day of earnings . Credit spreads are always best when playing a stock on earnings . Stay safe traders and investors. I will be playing either the Puts or Calls (credit side) once I see how this stock ends the day.
Bullish- Triangle breakoutSold off a bit after earnings, looking for a breakout from the end of this triangle.
- Bounced off its 200day EMA a few times now, MAs are also curling (not pictured)
- Bollinger Bands are Sqeezing
- Volume picking up and MACD appears to be about to cross
Bullish
Inverse head and shoulder pattern Snowflake 20th JuneBottomed out on 18th May 2021. Might be possible to hit 300 ? Strong volume at the shoulders support level.
SNOW - At 100 MASNOW - At 100 MA & holding at daily DZ, need to break trend line , target 273 upside at daily supply zone, stop loss if dropped below the current daily demand zone
Try 6/18 - 270c - 1.3
New trading Strategy upgrade -Hi traders, this is my personal trading idea only. My trading strategy is Price Auction - Chart only, I don't use indicators, MA, signals and trend line etc. Your comments are highly welcome. We need a relax and happy trading with happy ending on each trade. My chaos drawing is not to predict and guess the further, it is my plan where we are on the chart and how and what we shall trade on our trading plan. Good luck guys.
$SNOW Constructive Consolidation$SNOW I've opened a position in SNOW as it consolidates here. I have made notations on the chart for the reasons I'm in. I am in this one early for 2 reasons; 1. Many of the break-outs lately have failed so I want to be early and if a break-out fails I should be able to get out with a small profit. 2. It is very easy to define my downside risk here, which is really the #1 reason. Ideas, not investing / trading advice. Comments welcome.
Bullish Snowflake (SNOW)Back within the IPO trading range, SNOW looks ready to revert trend after a very strong quarter. Target of 275-300.
SNOW on WatchSNOW just reported earnings and has had a brief sell off. I have been watching this name after the break of the downward trend line, but wanted to wait for earnings before entry. If price can hold above the green box I like it long. So far price has flushed below the green box and recovered. I will wait for follow through recovery tomorrow. Plenty of room to run if it gets going.
SNOW ready to step up?NYSE:SNOW
Is SNOW ready for a breakout here on a cup and handle C&H formation backed by a nice volume build-up?
$SNOW - i have been waiting on this Using the strat indicators, there is continuation from daily, weekly to monthly
Using volume shelfs, we are in a good spot
Going long. Target is $270/share
SNOW Falls, Then Melts Up! What's it Mean for IPOs?Yesterday was an interesting session for Snowflake, which reported decent quarterly results on Wednesday night. The data-mining disruptor initially fell on the news as analysts fretted over its high valuations. But then buyers came out of the woodwork and plowed prices to their highest close in almost three months. The result was a large bullish outside candle and a bounce at the 50-day simple moving average (SMA).
The price action could be even more interesting for the broader “freshman class” of recent IPOs. Others including Palantir, DoorDash, Roblox and Upstart rallied after strong quarterly results. This follows several months of underperformance for most IPOs. Consider this chart showing improved relative strength in the Renaissance IPO Fund (IPO):
Three things may be going on. First, the Nasdaq-100 outperformed before earnings season because everyone was focused on results from giants like Apple and Microsoft. But now they’re mostly off the radar until mid-July.
Second, volatility is waning. That means correlations go down and stock picking goes back in style.
Third, Robinhood is expected to go public before the end of June. That could focus attention back on IPOs, including newcomers like SNOW.
In conclusion, the broader price action was already signaling a return to recent IPO stocks. Yesterday’s price action in SNOW – one of the most prominent last year – may further confirm the shift.
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SNOW - Relative strength in Artificial Intelligence namesMid-term idea. Nice bounce back to the demand zone 210-220. Let's see how the price will act on these levels.
SNOW Rejected at ResistanceSnowflake is are reporting net losses of 200M+ every quarter, causing the price to drop. We are currently at resistance, and this stock looks like it will drop lower.
Thanks always for viewing.
