SNOW pulls bak on Earnings Discount Sale
Updated
SNOW on the daily chart pulled back from decent earnings to in a massive bearish candle down
into its intermediate-term fair value zone near to the mean anchored VWAP and the POC line
of the volume profile. It is entirely possible that many traders sold SNOW at its highs when
they got FOMO over NVDA and needed to free capital to get more cash in their accounts
after buying NVDA . This could have easily helped SNOW go down despite decent earnings.
No matter if SNOW is on sale, I will buy it now setting a stop loss @ $145.00 and watch for
a Fibonacci-style retracement halfway back to the Pirvot high from which it fell for a first
the target of $ 170, a second of $180 ( one third of the position for each) and the final at
$170. In the meanwhile, I have a position on NVDA to play a possible drop.
into its intermediate-term fair value zone near to the mean anchored VWAP and the POC line
of the volume profile. It is entirely possible that many traders sold SNOW at its highs when
they got FOMO over NVDA and needed to free capital to get more cash in their accounts
after buying NVDA . This could have easily helped SNOW go down despite decent earnings.
No matter if SNOW is on sale, I will buy it now setting a stop loss @ $145.00 and watch for
a Fibonacci-style retracement halfway back to the Pirvot high from which it fell for a first
the target of $ 170, a second of $180 ( one third of the position for each) and the final at
$170. In the meanwhile, I have a position on NVDA to play a possible drop.
Trade active
Price up 4 % while call options hit 18 % trending upTrade active
Options now up 110% looking good. Bought the dip. Will hold another day before starting to take partials tomorrow over the remainder of the week.Trade active
Starting to draw down the position and realize the profits. Price action still up.
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