$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
4SNOW trade ideas
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.
Snowflake formed a bullish divergence with RSINYSE:SNOW is about to break out. Long the break out at 242.5$, anticipated price action and targets are shown on the chart, stop loss 220$.
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This is only my own view and not a financial advice, do your own analysis before buying or selling
Happy Trading!
$SNOW trying to break out of descending trendline$SNOW, arguably the biggest beneficiary of the world transitioning to cloud, is on the verge of breaking out of its descending trendline.
Nice formation forming in an uptrendWe can see a nice resistance there, but the higher lows are in place, so soon we can see a nice breakout and way to the sma100. Would love to see it breaking
$SNOW example play...Let's try a $245 - $255 debit call spread for this week, just $0.95. Or just wide open the $245 same week call for $1.35. Exit tomorrow morning with a move either direction to take profits or cut losses.
Long $SNOW soon!SNOW has been on a downtrend since Dec 2020. However, the stock looks like it is turning bullish on the daily timeframe where 9EMA has crossed over 21EMA, a bullish reversal sign.
Formation of ascending triangle on the weekly timeframe where 241.59 is a strong resistance level.
Once it breaks above this level, we're looking at more potential upside. On the daily timeframe, the EMAs are coming up to support the price in the triangle, which is one of the indicators I look at indicating possible breakout of the ascending triangle soon. Breakout of triangle with good volume is the trigger for entry.
PT1: 250.62
PT2: 264.02
PT3: longer term 300
SL: beneath triangle when price breakouts.
SNOWFLAKE ready to melt up?$SNOW showing signs of life after a downtrend
* BUY signal fired on Ultimate Stock Indicator
* Ripster EMA cloud turned green
* Looking for volume for entry.
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$SNOW might be overvalued...But so is everything, this chart still looks like its setting up for a move. Options pretty expensive however....
Could this be our next runner ?Consolidating for many days under $243 and once its start trading above $243 with more than average volume, it can easily touch $300.
SNOW 6 tests BreakoutSNOW is looking to breakout of its flat top formation. It has tested this level 5 times already and is going for a 6th. Each test into resistance is taking out supply increasing the likelihood of a continued breakout. Looking for this to run into the 250-260 range.
$SNOW done and done...Approaching volume shelf now, made good money on weekly calls, take profit and let it decide if it can break through...
$SNOW solid close...Ended above yesterday's high, just looking for a solid day tomorrow, uncertain about clearing the volume shelf just yet
$SNOW going to watch it snow for a little....Closed puts this morning on spy and QQQ, closed longs on AMZN, just going to see if SNOW has anymore then close out for the day.
