$SNOW Inverse Head and Shoulders Reversal 4/14 Video breakdown to $SNOW We are watching this AM. Has a potential reversal coming soon.
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.
Snow nearing breakout from IH&SUpdate Snow is nearing the breakout. Look for 250 calls if it breaks 241 area
$SNOW vs $BIGC two set ups I like, see who wins...$SNOW is at the volume shelf, $BIGC has room to run to get there but is at the smas...
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 update failed 241 breakout, watching for IH&S before entryLooking for starter adds long under 220 and down to 213 area for long to 250 area. Will look for May 240 calls now
Long | SNOWNYSE:SNOW
Possible Scenario: LONG
Evidence: Price Action
TP1 ~ 250, TP2 ~260, TP3 ~270
This is my idea and could be wrong 100%,
SNOW projectionsWe're in a downtrend channel.
The stock is in the leading diagonal stage.
We're expecting the rising wedge to fail, and create a second leg down.
If 210 (zone) holds, we should expect its next movement to reach the 248 zone.
SNOW longer term Call Options expiring 2022.SNOW measured move in equality into wave C support at about 212 is a buyable level. Look to establish LEAPs on SNOW expiring 2022. With stops below 200.
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 About to Break Up!!SNOW is reaching old resistance, if it breaks above with volumes I can see a few green days in the future. Overall this stock is on sale and should be a good buy.
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
SNOW potential Cypher completion into take profitsSNOW 65 min chart into 786 cypher completion.
Any gap up is potentially sold into TP1 the 38.2 fibonacci retracement off pattern completed Friday into close.
$SNOW Potential Bottom PickingNow that the trading week is over, we can take a closer look at how the broader markets have performed. For the most part of the week, the markets appeared to be quite choppy but now looking like we can potentially start moving higher.
If that is the case, then I think there is a potential here to bottom pick a high flying enterprise software company called Snowflake. At one point this stock was trading over 150x price to sales. It might sound ridiculous but in a controlled market where you have massive money printing, I don't think the majority of market participants are buying for fundamental cash flow. Instead, the markets appear to be competing for market share as there are only 100% possible owners of a company. :)
All in all, I categorized this technical setup as a reversal play and if the broader markets can rally then I think $SNOW can run up quite substantially for the short to mid term trader.
- EnterpriseGuy
