BUY THE DIP | $SNOW LONGBUY THE DIP! Good morning traders, as we look at SNOW on larger timeframes we see a well-needed correction after this IPO made a push toward even more all-time highs. This week could be the last of being able to grab it around this price.
Looking at price action, there are a few things to consider starting with the retest of $301. $301 shows as a strong level first as resistance, now as support (if it holds). SNOW is a buy
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SNOW: It's a White Xmas for Insiders and MoMo TradersSnow has skied upwards to 398 today, from a post earning low of 272. With 20% short, the squeeze the short play has worked out great for the longs. With lock-up free coming up in 10 days (Dec 14) and market cap reaching over $100 bil, it's very probable the stock will retracet back to $355, then 320 around the VWAP.
Info about the co: As of the first quarter, research firm Forrester identified Snowflake’s data management products as being roughly as strong or stronger than Microsoft (NASDAQ:MSFT), Amazon (NASDAQ:AMZN), and Alphabet (NASDAQ:GOOG,NASDAQ:GOOGL). Snowflake did, however, trail IBM (NYSE:IBM), Teradata (NYSE:TDC), Oracle (NYSE:ORCL) and SAP (NYSE:SAP) by significant amounts in the metric.
However, Snowflake’s pricing model, which enables its customers “to only pay for what they use in terms of computational processing and data storage,” differentiates it, according to a Seeking Alpha columnist. Further, Snowflake’s customer-satisfaction ratings, as measured by third-party websites, is the highest.
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SnowFlake Support off Expanding Triangle/Support on Channels.SnowFlake Support off Expanding Triangle/Support on Channels.
New issue low institutional ownership tiny float, tiny shares outstanding.
Important 90B IPO, owned by the best, underwritten by the best and managed by the best.
Buffett and Salesforce validated on the business/tech growth side.
Relatively unknown.
Must own.
36% shorted float.
Monster Stock.
Direction:Up
next levels for SNOWhello guys so lets see how snow did in the last two days ,just after the results there has been massive volume spikes and long bullish candles are forming,the volume today was higher than yesterdays volume which is a great sign,as per the FIb extension we can see the next major resistance is at the 397-400 level,if it defeats that level next would be 465(the stock touched 396 before reversing today,)....with the heavy volumes and bullish candles expect the trend to continue ,another observation be the closing price for today and yesterday which is close to the days high ,pointing to strong momentum