SNOWSnowman is ready! Big volume came in all day on Friday. A hold of $270 garners either consolidation and support of the level or a straight shot to $300+. Trade only invalidated with a loss of $250.
SNOW trade ideas
MARKUP SNOWFLAKEclassic wyckoff accumulation
phase D, buec. resisntace BO, entering phase E --> Markup
-reaching top 3rd EW around ~ $300
$SNOW | Snowflake Inc: Bull Flag on Top of Structure$SNOW formed a bull flag above a key pivot level. Watch for a breakout of the flag structure as confirmation.
Initial Targets: $250 | $260 | $270
$SNOW Consolidation Break-out$SNOW I like this name and the cloud space. I've entered this several times in the consolidation phase when it looked to me that it was breaking out only to have it pull back in. I have it on my action list now if it can close over the 200 Day SMA. So that means either at the close today if it does or next week, if it does. All TBD. Ideas, not investing / trading advice.
Snowflake delivers the Data Cloud — a global network where thousands of organizations mobilize data with near-unlimited scale, concurrency, and performance. Inside the Data Cloud, organizations unite their siloed data, easily discover and securely share governed data, and execute diverse analytic workloads. Wherever data or users live, Snowflake delivers a single and seamless experience across multiple public clouds. Snowflake’s platform is the engine that powers and provides access to the Data Cloud, creating a solution for data warehousing, data lakes, data engineering, data science, data application development, and data sharing.
Short SNOW below 184.71 as per down fractal.SNOW has been wandering around a closed daily mouth since early March. Weekly is still below the balance line.
Down fractal of 184.71 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 184.71. If it does, we join the direction of the market.
NYSE:SNOW
SNOW - Puts!Rounded double top here and I will be looking to trade this to the 234.50 level and perhaps 220 if 234.50 cannot hold as support.
$SNOW shows an inversed Head & Shoulders bullish long-termWe can see how an inversed shoulder-head-shoulder is being created. If confirmed the price could go as up as aprox 290$. RSI does not show any interesting view, but we can see a down trend right there in the last few days; in this line, MA (9) is falling,but I consider is just momentum. Moreover, $SNOW is reaching to its floor, so it could activate buy alerts; in this line, MA (50) is below to its current price it could also work as a floor. If it does not break these floors, the stock has two target price (showed in the graph). Disclosure: I'm not long $SNOW. But starting to consider it.
Snow , Long entry Snow looks good:
May 27th was a big day on that solid move up backed with volume followed by a congestion period where sellers were seemingly nicely absorbed.
Then, looking at the last 3 sessions, June 17th had a nice volume validated move up , 18th we see sellers introduce some supply ( but nothing buyers were not able to handle as evidenced by lower wick and tighter day). And today we have a very positive sign of a low volume test, which further confirms that current supply is irradiated . A continued move up seems probable .
SNOW earningsSNOW has been around since 2012 but IPO'd last year in September at a higher valuation than its initial public offer of $120. The IPO valuation started at $245 on Sept 16 2020 with the high of that day going all the way to $319. It didn't take long to reach an ATH of $429 right around December 2020. Ever since the ATH it has been in a momentum downtrend spiral while early investors and institutions bank on retail. Without a surprise the Resistance level sits around $244, which is a psychological level for many retail investors who got in last year in Sept. A breakout of this level will keep retail enthusiastic and falling under the endowment effect where they believe this stock will now continue to go higher. Retail must be aware that there is a bull trap market profile supply level around $250 and must not fall for the breakout trade (unless for a quick scalp). Market profile demand is sitting around $214. With an earnings release tomorrow after market close it is best to sit on your hands and wait to see what price does. Keep in mind that volatility is always the highest the day of earnings . Credit spreads are always best when playing a stock on earnings . Stay safe traders and investors. I will be playing either the Puts or Calls (credit side) once I see how this stock ends the day.
Bullish- Triangle breakoutSold off a bit after earnings, looking for a breakout from the end of this triangle.
- Bounced off its 200day EMA a few times now, MAs are also curling (not pictured)
- Bollinger Bands are Sqeezing
- Volume picking up and MACD appears to be about to cross
Bullish
Inverse head and shoulder pattern Snowflake 20th JuneBottomed out on 18th May 2021. Might be possible to hit 300 ? Strong volume at the shoulders support level.
SNOW - At 100 MASNOW - At 100 MA & holding at daily DZ, need to break trend line , target 273 upside at daily supply zone, stop loss if dropped below the current daily demand zone
Try 6/18 - 270c - 1.3
New trading Strategy upgrade -Hi traders, this is my personal trading idea only. My trading strategy is Price Auction - Chart only, I don't use indicators, MA, signals and trend line etc. Your comments are highly welcome. We need a relax and happy trading with happy ending on each trade. My chaos drawing is not to predict and guess the further, it is my plan where we are on the chart and how and what we shall trade on our trading plan. Good luck guys.
$SNOW Constructive Consolidation$SNOW I've opened a position in SNOW as it consolidates here. I have made notations on the chart for the reasons I'm in. I am in this one early for 2 reasons; 1. Many of the break-outs lately have failed so I want to be early and if a break-out fails I should be able to get out with a small profit. 2. It is very easy to define my downside risk here, which is really the #1 reason. Ideas, not investing / trading advice. Comments welcome.
Bullish Snowflake (SNOW)Back within the IPO trading range, SNOW looks ready to revert trend after a very strong quarter. Target of 275-300.
SNOW on WatchSNOW just reported earnings and has had a brief sell off. I have been watching this name after the break of the downward trend line, but wanted to wait for earnings before entry. If price can hold above the green box I like it long. So far price has flushed below the green box and recovered. I will wait for follow through recovery tomorrow. Plenty of room to run if it gets going.
