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Snowflake Inc.

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SNOW trade ideas

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 Follow me for more analysis & Feel free to ask any questions you have, I am happy to help If you like my content, Please leave a like, comment or a donation, it motivates me to keep producing ideas, thank you :)
NYSE:SNOWLong
by jurajholik
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
NYSE:SNOW
by TheSignalyst
Price should go up if break 172 USD This is not recommendation just my idea what could happened. If SNOW would break over 170, the price should reach 200 USD. There is a support at 120-130 USD. Looks like acumulation, because of high volumens spikes whenever price reach this support. In my opinion it's hihgly unlikely to price go over 200USD and below 120 USD without any additional cause/information/big event or big loss in earnings. This range seems to be solid. To be honest, I would not invest in SNOW now. I would wait at 200 USD level to sell or buy at 120-130 level. Now... hm.. maybe buy is some option but with very tight stop loss.
NYSE:SNOW
by zaglobaK
Snowflake (NYSE: SNOW) Gradual Growth To SuccessFundamentals Snowflake (SNOW) sells data analytics and management software that runs on cloud computing platforms. The company is evolving into a cloud data management platform. SNOW stock is up 4% in 2023 after pulling back from bigger gains. The Nasdaq composite has jumped 29% amid buzz over generative artificial intelligence. The company offers Snowflake Cortex, a new fully-managed service to provide access to large language models, AI models and vector search functionality. When the company reported April-quarter earnings, Snowflake cut its full-year fiscal 2024 outlook. Snowflake lowered its forecast for product revenue growth to 34% to $2.6 billion from its earlier projection for 44% to 45% growth. SNOW stock could get a boost from a recent multi-year expansion of its partnership with Amazon Web Services. Both companies will contribute to stepped-up marketing. Snowflake has committed $2.5 billion in spending on AWS over the next five years as part of the deal. The two companies will expand strategic initiatives by developing industry solutions, deepening product integrations, increasing sales collaboration, and expanding marketing strategies. Snowflake and AWS currently have over 6,000 joint customers. About 84% of Snowflake customers run cloud workloads on AWS. SNOW Stock: Biggest Software IPO Because Snowflake's business model is consumption-based rather than subscription-based, bearish investors have raised concerns over a possible U.S. recession curbing demand. Snowflake aims to enable customers to access and distribute data across their business ecosystem, thereby accelerating business intelligence and advanced analytics. Snowflake stock pulled off the largest initial public offering ever by a software company in September 2020. The Snowflake IPO raised $3.4 billion. Snowflake hosted a user conference and analyst day in Las Vegas in June 2022. The company said new products in app development, data security and other areas will expand its total addressable market to $248 billion by 2027, up from $90 billion last year. Snowflake Stock: Consumption Business Model Most software stocks typically trade as a multiple of forward-looking revenue growth. Snowflake is not a software-as-a-service, or SaaS, company that aims to build recurring subscription revenue. At the user event, the company addressed concern over its consumption-based revenue business model. Snowflake revenue is tied to how much data its customers crunch and store. One issue is that usage could slow during a recession. Another issue is that customers view Snowflake as expensive if they don't control usage. Some analysts say there's less transparency and predictability than with a subscription-based SaaS business model. Snowflake Stock: Competition Increasing Further, Snowflake stock hit an all-time high of 429 in early December of 2020. But SNOW stock swooned amid analyst concerns over its lofty valuation. Competition is increasing. Salesforce (CRM) recently introduced Genie, a real-time data solution, that could clash with Snowflake at some point. Whether Amazon Web Services or Google cloud ratchet up competition remains a concern for SNOW stock. Hewlett Packard Enterprise (HPE), with its GreenLake platform, is another rival. Technical Analysis We can see a Horizontal Trend Line forming a Head and Shoulder In Snow Inc. meaning the Stock is likely to swingle in-between the support and Resistance Zone Respectively. Price Momentum SNOW is trading in the middle of its 52-week range and below its 200-day simple moving average. Investors are still evaluating the share price, but the stock still appears to have some downward momentum.
NYSE:SNOWLong
by DEXWireNews
Is Snowflake Melting Down?Snowflake fell sharply in early 2022. It drifted sideways for more than a year, and now traders may think the software stock is ready for another leg lower. The first pattern on today’s chart is the double-top in June and July. SNOW has declined since, confirming the bearish formation. Next, a series of lower highs following the double top has produced a falling trendline. Third is the rising trendline starting in January. Prices have repeatedly pushed against this support since August, and now it may be breaking. Finally, the 50-day simple moving average (SMA) rose above the 200-day SMA in early June. However, it failed to stay there and had a bearish “death cross” on October 9. Does that indicate a longer-term downtrend is resuming? TradeStation has, for decades, advanced the trading industry, providing access to stocks, options, futures and cryptocurrencies. See our Overview for more. Important Information TradeStation Securities, Inc., TradeStation Crypto, Inc., and TradeStation Technologies, Inc. are each wholly owned subsidiaries of TradeStation Group, Inc., all operating, and providing products and services, under the TradeStation brand and trademark. TradeStation Crypto, Inc. offers to self-directed investors and traders cryptocurrency brokerage services. It is neither licensed with the SEC or the CFTC nor is it a Member of NFA. When applying for, or purchasing, accounts, subscriptions, products, and services, it is important that you know which company you will be dealing with. Please click here for further important information explaining what this means. This content is for informational and educational purposes only. This is not a recommendation regarding any investment or investment strategy. Any opinions expressed herein are those of the author and do not represent the views or opinions of TradeStation or any of its affiliates. Investing involves risks. Past performance, whether actual or indicated by historical tests of strategies, is no guarantee of future performance or success. There is a possibility that you may sustain a loss equal to or greater than your entire investment regardless of which asset class you trade (equities, options, futures, or digital assets); therefore, you should not invest or risk money that you cannot afford to lose. Before trading any asset class, first read the relevant risk disclosure statements on the Important Documents page, found here: www.tradestation.com .
NYSE:SNOW
by TradeStation
2
SNOW (Breakout not yet active)SNOW here consolidating in a pennant for over a year Breakout trigger is over 194. Set alert for 194, if we get a couple of closes above that there is a breakout here to 205 then 240. This works both ways, as technically the trend going into the pennant was a downtrend, so by definition it is technically a bear pennant. However the breakout or breakdown depends on where the exit from the pennant happens, which for upside is 194, for downside is 135. If below 135 there can be a fire down into 100-110 area.
NYSE:SNOW
by Jovan888
Snowflake - Is It Time To Stop Gambling On Chop?Snowflake, a Nasdaq company, has earnings looming post-market, which has IV on weekly calls and puts juiced to 150%. Yet people are still gambooling on the next big instawin. The problem is you'll blow your account and won't need TradingView anymore and won't be able to have any fun in your community. Really, a far better proposition if you want 5 and 8:1 odds on things that are like 10 or 20:1 against to hit is to deposit on a sportsbook and put the same risk into a 3-bet parlay on late season MLB. If you're right you'll even get paid the same day and not have to mess around with charts and bars all day. Snowflake is one of the tech sector dump casualties, but has never bounced. The monthly shows very clearly we're simply sitting in $90 worth of range spanning almost a year and a half. And while $90 in range is pretty good, the problem is that it doesn't pump. There will eventually be a change in market structure and the most likely target is under $110. Weekly bars show us that the May low has been taken out before earnings, and this is a factor that is not consistent with bank/fund sponsorship to take out the highs. Which hints to us that the largest players who can move the market of a company that is still valued at $49 billion while printing $650~ million in quarterly revenue are probably targeting the bottom of "the flag" and not the top. While the failure swing at $190 forms a double top and becomes a target, the problem is that everything is set up, with Jackson Hole as the Federal Reserve and the world's most critical financial policy decision pending on Friday, to continue to correct and correct violently into the fourth quarter. Nasdaq Futures - The Trend Is Your Friend, Until The End Moreover, a lot of the worldwide economic situation is being heavily driven by what's going on Mainland China with Xi Jinping and the Chinese Communist Party he still hasn't thrown away. Word in the Western media is that the regime's de facto state run corporations, for whatever reason, are sitting on something like $3 or $4 trillion in real estate debt that's about to explode in their hands. There's still the problem of natural disasters like the Beijing floods, economic calamities like the International Rules Based Order jawing and chattering about "de-risking" from China, and the impact of the virus that has claimed many, many more people than the few hundred thousand the CCP has officially reported to John Hopkins for the official trackers. Worst of all is the 24-year persecution and organ harvesting genocide against Falun Dafa's 100 million spiritual practitioners looms over the head of the Party. Even though Xi isn't responsible for the persecution and hasn't participated, it was done by former Chairman Jiang Zemin and the toad faction nested in Shanghai-Babylon, Xi is the one with his head in the prisoners' box because he's now the Chairman of the Party. And on top of that is an epidemic of arsons masquerading as climate change that have burned to death tens of thousands of hectares of trees and forests and their associated plants and animals. This world is out of control, but it's not allowed to stay out of control for long. And while it's on the brink, you're being told to get long by furus, Discord, Telegram, Wechat, Stocktwits, and Reddit, and are happy to take the bait, because you don't see the danger. So here's what's up for SNOW on earnings. A really likely theory is that it doesn't do much at all because the option sellers will just hold the price where it is in advance of Jackson Hole, let IV decline, collect all the premium from you as everything expires worthless on Friday and laugh. And somewhere along the way, Snowflake will have a $12 retrace to bring in breakup traders and take out short sellers to $165. But this $165 will be another form of optimal short entry to target the $100 mark before Q4 expires. If there's to be upside on this stock, based on the length of time and range of the chop and the specific price action amid the overall market and macro conditions, it would be a lot more likely to come after the lows get taken. Be careful.
NYSE:SNOW
by LordWrymouth