SNOW Bullish for EarningIt reports earnings after the market close on Wednesday. Additionally, the overall market looks bearish we could see some downside and will be a great opportunity to play for earnings.
SNOW trade ideas
Snowflake short term Covered Call before earningsI believe Snowflake will stick within its current downtrend channels until earnings date. Trend is down, and RSI / Volatility is settling.
I'm selling a Dec02 170 CALL option covered by my position which I hope to expire worthless on the Friday before earnings .
After earnings , I expect stock to rally outside the channels.
Snowflake ❄ Like all high P.E growth Tech this stock got a huge boost from lower cpi #.
Up 30% in 2 days, I think we pull back and Retest daily 21ema around 153
If we break below 153 then we retest 146 fib area.
Now if we bounce off 146 it would look like a formation of a right inverted head and shoulder.
So what I'm saying is , a short term pullback then a possible rally to 170-185 if this market rally persist.
Overall there's no catalyst for snow to go up other then following market pivot sentiment
SNOW WOLFE WAVE DAILYThere is a daily wolfe wave setup that triggered on November 11 on the day of CPI. The projected target is calculated by extending a linear line between pivot 1 and 4 and projecting the line. This is represented as the green perforated line, as shown in the chart. Projected targets are defined by identifying the apex of the wolfe wave and projecting a vertical line toward the green perforated projection tgt which is extending from left to right; however, the apex does not converge and as a result, identifying price targets short term should rely on moving averages or open gaps. The next major moving average is the 200 day ma which is 180.
SnowStill another 10% minimum drop in this stock in the short term.
110 is my target
Fell out off a major bear flag that will probably see this 70$ by next summer
QuickTrade 163 : SNOWLong, looking for a test of the 21h on the 50h
Short looking for new relative lows
SNOW ShortBounce back to supply Zone, Zone Confirmation
Trendline break
Earning: 8/24/2022 Est. -0.01
Short 139
Stop 157
Target 100, 80
Risk management is much more important than a good entry point.
I am not a PRO trader.
In my trading plan, the Max Risk of each short term trade should be less than 1% of an account.
SNOW - pressure building1. weekly downtrend broken
2. weekly - exhaustion volume followed by some consolidation
3. weekly - bull flag building
could look for entries - around the monthy-weekly open level. I'm getting the best read on a weekly chart
Bull flagA bull flag is forming after a significant drop + breaking above the lows. It might be the bottom.
QuickTrade n. 132Long, looking for a continuation of this cross test of the previous high
Short, looking for a failed cross with re-test of previous lows.
Long IdeaThe Vortex on a weekly chart is giving a buy Signal as well as the VSA highlight a big Volume on the Downtrend which indicates a squeeze of sellers.
Disclaimer : this post is not an investment advice, This is for educational purposes only. I am not a financial advisor.
Possible SNOW shortNYSE:SNOW
Double Top
Bear Flag on the Daily
Rejection of the GZ
PT: 160-155
SNOW OCT 21th 175p
SNOWDaily RSI broke down and closed underneath RSI trendline for the second time. Weekly close back under the 50 on RSI and a break of RSI trendline.
SNOW - Bear flag break downI would wait for a pop to 165 and short it. It has a long way to go down.
$SNOW $SNOW pushing higher from the AVWAP on 3/3/22 gap down. Moving up nicely in the regression channel from June lows.
QuickTrade n.88 : SNOWShort, looking for a continuation of this bearish cross
Long, looking for a fake-cross +double bottom at $165.85
SNOW Bounce 2.0 bullish setupThis one straddled the 9/12-9/13 dates since it gapped down, but that gap down seemed to create a perfect long entry
#SNOW long ideaHello dear Traders,
Here is my idea for #SNOW
Wait for daily close above the yellow trigger line (previous month high) to enter trade.
We try to anticipate a 2-1-2 bullish reversal in the weekly chart and 2-2 bullish reversal in daily
Targets marked in the chart (black lines)
Invalidation level marked with red line
Good luck!
❤️Please feel free to ask any question in comments. I will try to answer all! Thank you.
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Channel Up//AB=CD BearishAlmost like a huge bear flag but this flag is a bit heavy.
Overall trend broadened.
At a level of support today even if temporary.
If price breaks Channel support line I will re-evaluate.
ABC Bearish in this case AB=CD) with a shooting star at D.
No recommendation
