$SNOW - digesting levelI continue to love this stock. It is really digesting this level. Anything under $309, I will add.
Today looks like I will have the opportunity to add.
1SNOW trade ideas
$SNOW - 330 calls > 325 | 320puts < 322$SNOW - consolidating and for lotto friday can try 330 calls > 325 | 320puts < 322 , also rememder today quad witching
Snowflake, Inc. $SNOW reaches pattern target, partial exitSnowflake is a cloud computing-based data warehousing company based in Montana, named after the founders' love for winter sports. I like winter sports, and the ticker SNOW is aesthetically appealing in my portfolio.
The trade setup was straightforward. The company IPO'd in 2020 at $220, and after one quarter that saw investors take price up above $400 per share, all post-IPO gains were given back by mid-2021, and price got down to as low as $180.
Between March - July 2021, $SNOW formed an inverted Head and Shoulders bottom, reflected by the blue curved drawings - a left shoulder, a "head", and a right shoulder. Once price broke above the pattern boundary, I reached a measured target of $320 by applying the width of the pattern (from $180 to $250, or $70) to the breakout level of $250.
$70 + $250 = $320
This measurement criteria is based on the works of John Magee and Robert D. Edwards in Technical Analysis of Stock Trends (5th edition, 1948).
My stop-loss, the "Last Day Rule", and my limit order placement is based on teachings from my friend and active trading legend Peter L. Brandt (Diary of A Professional Commodity Trader, @PeterLBrandt).
I've now covered 3/4 of this position for a gain of 28% (70/250).
My maximum risk, assuming my stop loss order filled peacefully at its activation price was only 4% (10/250).
The risk to reward setup at the time of entry was then (4%) to 28%, or 1 to 7.
Snowflake is probably in line for further price gains, but I have no reason to believe I have an edge at these levels.
$Snow$SNOW is in the sweet spot here in my opinion. Mid-cap growth and best of breed along with recent ipo. Big volume uptick heading into a summer weekend caught my attention. This one is a favorite of both wall-street and retail. CEO is mega brilliant.
Snow updateImo this is still an (ABC) wave structure just has a minor correction instead of a deeper retrace for live earnings conference and we ended probability for an impulsive 5 wave structure by a minor wave structure interesecting 4th wave correction with wave 1 impulsive in the the probability of a 5th wave , this is my probability of how things will play out further with an ending diagonal and then a push down. But in other news we did hit the green box from my other post so if you were the swing holder you are in profit congrats : ).
As always happy trading : )
Snow wave analysisSnow has taken a fall from a ending diagonal pattern and has fallen off into a Double three as you can see I have put the retracements and extension zones and included with arrows where I think it will be further into time I hope this helps with my analysis : )
As always happy trading : )
$SNOW - pick up on retest and rideBeen collecting this since I saw the green 3 strat candle on the monthly chart.
Adding on a test of $286.15
Ride to $330 and beyond.
I am in commons.
$SNOW - W pattern hourly$SNOW - W pattern hourly, looking good for gap fill & break above 288 target 290 & 300
SNOW UpdateIf snow can stay above and hold 275 - it can test 290, 300 next.
My first target is 290, if SNOW closes strong today and holds above at least 275-278.
$Snow sorry thought i posted this : look at the snapshot and look at the level from the long position graph that doesn't show up
the 263 was entry and 261 was the stop. and 274 was target, for some reason the little box didnt show up on the snap shot
Snowflake Breakout TradeNYSE:SNOW
Ascending Triangle
Slow Turtle Buy
Uptrend
FiFT +ve Bull Recharge
MCDX Banker Spike up
Banker 87%
Atom buy
SNOW on WATCHSNOW has been in this range for a while and the triangle is getting tigher. With Earnings coming up, that may be the catalyst to bring this over the edge.
$SNOW $CRWD $NIO $MSFT I OptionsSwing WatchlistSNOW 4H I After June, we see another SNOW ascending triangle leading into earnings in September. Watching a bounce near $260 or a break above $276.
CRWD 1D I CRWD was rejected right on our trend line last week near $270, watching for a bounce near $240-$245. CRWD is due to report earnings on 09/01.
NIO 1D I NIO possible cup and handle pattern. Watching for a break above $45 and the trend line. Our scanners picked up bullish activity expiring on 08/06.
MSFT 1D I A bounce above the breakout of this channel ($280-$285) that was formed back in 2020, could take MSFT closer to the average stock price target of $321.
SNOW - July activityI measured SNOW's monthly activity seems like there's a buy and sell pattern that is very obvious. The yellow lines indicate the trading days (weeks) of the month.
Short SNOW below 231.52 as per down fractal.SNOW has been wandering around a closed daily mouth since early March. Weekly is right on the balance line.
Down fractal of 231.52 is both the last fractal in the daily and weekly chart. If triggered, it would be valid both in the daily and weekly, with some energy for a run.
The trade will only be entered if the price goes below 231.52. If it does, we join the direction of the market.
NYSE:SNOW
SNOW > 275 can test 290-300Watch SNOW, I have an alert set this week for 275 calls if it breaks out of resistance, it can test 290-300 next.
