SNOW. 2.8.24 Core ClassDid I follow the plan?
Entry: 218.91
Exit: 217.02
Did you make any mistakes:
What could you have done better?
What rules will help me?
1SNOW trade ideas
SNOWFLAKES | Bullish BreakoutSNOWFLAKES has exhibited a series of notable breakouts, enhancing its bullish prospects:
Symmetrical Triangle: The stock has experienced an upward breakout from a symmetrical triangle pattern, followed by a retest of the breakout level before continuing its ascent.
Weekly Resistance: Additionally, SNOWFLAKES has surpassed a significant weekly resistance level, which had previously functioned as a support zone.
These developments suggest a favorable upward trajectory for the stock, with potential for further gains. It is advisable to maintain a stop-loss level below 180 to manage risk effectively.
SNOW -On sustaining above 205 looks good for upside.SNOW -On sustaining above 205 will look for target of 240,270 and 300
It has given very good breakout from its channel.
RiskMastery's Breakout Stocks - SNOW EditionWelcome to RiskMastery's Breakout Stocks - Stocks with breakout potential.
In this edition, we'll be looking at NYSE:SNOW ...
I believe this code is at a point of potential volatility.
If price can hold above $218.76 ... Bullish potential may be unlocked.
My key upside targets include:
- $250.35 (Conservative)
- $291.72 (Medium)
- $330.43 (Aggressive)
If however price falls below $173.53 ... Bearish risk potential may be unlocked.
(My key risk targets - C, M,& A - are as noted on the chart)
Enjoy, and I look forward to being of further service into the future.
If you'd like to connect, feel free to reach out and comment below.
Mr RM | Risk Mastery
Disclaimer:
This post is intended for educational purposes only - Publicly available RiskMastery information & content is not intended to be financial advice in any shape or form. Please do your own research and seek advice from a licensed professional before acting on any of the information contained within this post. This post is not a solicitation or recommendation to buy, sell or hold any positions in any financial instrument. All demonstrated trades are merely incidental to the educational training RiskMastery aims to provide. You are solely responsible for your own investment and trading decisions, of which should be made only according to your own opinion, knowledge and experience. You should not rely on any of the information contained on this site or contained in any RiskMastery material on any website or platform. You assume the sole risk of any trade or investment you elect to make. RiskMastery and affiliates shall not be liable to you for any monetary losses or any other damages incurred directly or indirectly, from your use, reliance or reference of RiskMastery materials, content and educational information. Thank you for your understanding and cooperation - We look forward to working with you into the future to navigate the fine line of trading and investment success.
Looking for a Breakout in Snowflake (SNOW)Company Info:
Snowflake is a cloud data warehouse that can store and analyze all your data records in one place. It can automatically scale up/down its compute resources to load, integrate, and analyze data.
As a result, you can run virtually any number of workloads across many users at the same time without worrying about resource contention. Workloads can include use cases such as batch data processing to interactive analytics to complex data pipelines.
Techincals:
It has been now consolidating inside the rectangle for almost 18 months and a breakout seems imminent. It used to one of the hottest stocks before the bear market.
Looking for price to rapidly cross 200-204.
Stops would then sit below 20 DMA (Daily Moving Average).
Target would be 280.
SNOW Bounce Off 50 EMA into Resistance on the DailySNOW looking like it wants to break resistance that's been holding since August 2022. It's been making higher lows since then, and a perfect bounce off the 50 EMA has this set up nicely to fly through $200. Target is the volume area at $234.
Bullish on Snowflake Inc. ($SNOW)NYSE:SNOW is looking to break through a major resistance price of $205 and start snowballing to the north of the charts. Targeting the $300 price which is the next major price level.
Snowflake has demonstrated remarkable revenue growth since its IPO!!
As businesses increasingly migrate to the cloud for data storage and analytics, Snowflake's innovative cloud-native data platform stands out. Its architecture allows for seamless scalability, flexibility, and real-time data insights, making it a preferred choice for enterprises seeking advanced data solutions
The company's subscription-based model, coupled with a diverse customer base, contributes to a steady revenue stream. With a rising demand for cloud data warehousing and analytics, Snowflake is well-positioned to capitalize on this trend and continue its impressive revenue trajectory which will reflect its stock price.
Make it SNOW $$$
long $SNOW for the yearSnow seems a buyable company at this point, we just confirmed a weekly trend, we have a trend confirmed in the monthly timeframe and a potential trend which is not confirmed in the quarterly timeframe, which would lead to an uptrend until June 25'.
My Idea is to publish and share some Ideas for a longer timeframe, also for me to see how they play out - managing your risk accurately!
SNOW Stock Pattern Breakout Looks GreatAcross the daily, weekly and monthly time frames, stochastics is supporting a year-and-change saucer-like pattern breakout in SNOW shares. After a relatively terrible couple years versus large cap tech arena, Snowflake looks like a solid long / bullish trade candidate for collar traders imho
SNOW Broke Out Above Huge TriangleThe price action of SNOW has formed a significant triangle pattern beginning in August 2022. In December 2023, the price broke above this triangle and is currently undergoing consolidation within a smaller triangle, delineated by yellow lines. Another positive technical indicator is the 'Golden Crossover,' where the daily 50 moving average (white) crosses above the daily 200 moving average (blue).
On the fundamental side, SNOW's growth trajectory is impressive. The company's revenue surged from $97 million in 2019 to $2 billion in 2023. This growth is partly attributed to the increasing efficacy of AI and the pivotal role of data in developing large language models. Assuming data continues to play a dominant role in AI development, it's reasonable to anticipate a continued rise in Snowflake's revenue.
Moreover, Warren Buffett's investment of $735 million in the company adds another layer of confidence in its prospects.
Adding SNOW to the watch list SNOW could be interesting if it can manage to break out of this range here. Will be keeping my eye on price. Been stuck in this range for quite some time now.
Long only if it breaks out
SNOWFLAKE breaking long time resistanceThere is a multi year resistance around $205 for NYSE:SNOW
Signs I'm looking for:
Top of channel to become support, a bounce off there and a move into $220 should confirm that.
I want to see the SuperTrend indicator stay green, upwards of the level of where the red downtrend line exists.
SuperTrends on higher time frame charts work the best. It's often pretty solid when used on individual stocks rather than an index.
Take a look at the supertrend (strategy) and mess around with different time frames. You'll see the cumulative return is very high, often much higher than just buying and holding the equity.
Let me know what you think : )
Looking bullish on SNOW within the week for a swing trade.Thank you as always for watching my analysis on SNOW. Please feel free to like, share, and comment on this post.
SNOW resistance and breakout?NYSE:SNOW has been suppressed compared to the rest of the AI stocks like CRWD, ZS, NVDA.
I think NYSE:SNOW will become a $400 stock most likely this year because there will be a FOMO rush on these companies once the SPX breaks this new ATH and makes a significant move up. If you time it right you could ride this thing to $400 but make sure it correlates with the overall market direction and use your judgement .
SNOWSnowflake Inc. is a cloud computing–based data cloud company based in Bozeman, Montana. It was founded in July 2012 and was publicly launched in October 2014 after two years in stealth mode. The firm offers a cloud-based data storage and analytics service, generally termed "data-as-a-service"
Multi-month base, potential breakout.
SNOW (Long) - Beautiful Technicals, Don't look at FundamentalsFundamentals
Really not here to admire the pristine fundamentals - the stock is severely overpriced with a price-to-sales over 20
However, having been at this for a while, for a 6-month horizon, the technicals, price and the momentum are the things to focus on
Regardless, NYSE:SNOW is an outstanding company with a very bright future. However, its price might fluctuate wildly over the coming years until its sales catch up with the valuation
For now, the technicals are the key...
Technicals
The longer a firm has been forming a bottom, the more excited I tend to get about a breakout
The price of SNOW has been oscillating around for a while, forming a basing pattern (pick any of the three names on the screen) and accumulating share demand and momentum
If everything goes well, the price breaks out cleanly over the resistance (black line)
Looking at the stochastics, momentum is strong and volume has been on our side for the duration of the most recent up leg - shown by the Chaikin Money Flow indicator.
However, considering my slight doubts about the overall market, I would shorten the horizon on this trade to 2-3 months - to hedge the best in case the market calls the investors' "soft-landing" bluff
Trade
I see two potential way s of playing this trade: (i) enter where the price touched the red-coloured line, catching the pullback and frontrunning the breakout (if you have a strong conviction) or (ii) wait for the actual breakout - best-case scenario is a long, fat green candle which sustains the highs towards the close and does so on volume
Given the first choice, stop loss just below the red line or the 19-day EMA. With the second option, the black line is the obvious stop
Failed breakout would be an obvious no-no for me and I would abort the trade and wait how the price action develops
Also closely watch the NASDAQ:QQQ , Snowflake likes to follow it and I have some worries about the sustainability of the tech rally
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$SNOW - just watch for nowNYSE:SNOW Snowflake had a good run. It is currently at a resistance and MACD just did a bearish cross.
I would not be chasing this stock. If it can break out above the current resistance, it can open the door for further upside.
But I believe it will have to consolidate or pull back here first before it can run further.
SNOW POTENTIAL INV HS.Simple pattern requiring a little patience in order to have proper confirmation before entering. Would like to see a higher low/shoulder formed then a bullish candle pattern signaling potential upside.
SNOW is in a macro correction - will move up to 390 firstSNOW is within wave B as a WXY of a larger ABC zigzag correction. It has already completed 5 waves down for wave A. Likely to complete wave B at 390 dollars before heading lower for a wave C.
SNOWSnowflake Inc. is a Data Cloud company.
Looks like a significant bearish flag. The company reported well, with growing revenue and investments in AI implementation.
It's a risky trade, considering the correction amidst the overall market adjustment.
tp1 175
tp2 143
SNOW Target $306SNOW broke through resistance and completed a triple bottom pattern.
Fundamentals seem good with positive growth expected in coming years.
May have a small dip to take support.
Expect to follow long term parallel channel and test 0.5 fib level.
Target $306
snow long position setting up nicely with a nice squeeze and higher timeframe consolidation
break and hold above breakout area and take to target 1 or 2
SNOW is rising this Winter ❄️Hello TradingView Family / Fellow Traders,
❄️ NYSE:SNOW has been stuck inside a big range in the shape of a symmetrical triangle.
🏹 For the bulls to take over from a long-term perspective , and the Markup phase to start, we need a weekly candle close above the 210 resistance.
Meanwhile, as SNOW approaches the lower bound of the triangle, we will be looking for short-term buy setups on lower timeframes.
📚 Always follow your trading plan regarding entry, risk management, and trade management.
Good luck!
All Strategies Are Good; If Managed Properly!
~Richard Nasr
