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SNOW

Called bottom on SNOW last week; now found support on the 50-emaSNOW started a reversal after hitting a fib retracement level mid last week, where I called the bottom (see linked chart) and bought some shares. Here is a summary of the current chart and my trading strategy: BUY SIGNALS 1. +DI crossed above -DI (green line above red line) and ADX line (white) is flat but starting to curl up after the drop (signals a trend may be about to start; an uptrend in this case). 2. MACD curling up 3. Support on 50-ema, which coincides with the .618 fib extension. Seems to be strong at the moment. TRADING STRATEGY Now, it is not because these indicators are pointing to a bullish move that that move has to happen, after all there is only so much the charts can tell us. So to protect your capital (if you buy), you could buy at current levels with a tight stop loss just below the .5 fib level, around $293. Take into account there is support on emas on lower time frames (4hr and 1hr) between the current price and the.5 fib level so those could potentially hold the price if it breaks below the 50-ema on the daily chart. That is why you want to place your stop loss below those moving averages so you are not stopped out too early. That's what I am doing anyway. If the price falls and still triggers your stop loss but then bounces back up you can always jump back in if indicators and volume point to and upward trend. If the price continues going down you are saved from further losses. This is as minimal risk as it gets. OTHER CONSIDERATIONS 1. Also keep in mind that millions of new shares were release from lockup last week so there may be more sellers waiting the price to move up to unload their shares. However, because we are right on support, this trade would present minimal risk if you place your stop loss accordingly. 2. Also, this analysis is contingent on how SNOW opens tomorrow. If it opens way below the current price or way above, the trading strategy might need to be adjusted. Please use your diligence if either scenario is presented. Safe trades! ***If you get anything out of this TA, please like and follow for future updates and more TA. Thanks a lot!*** ***THE IDEAS SHARED HERE ARE MY OPINION. THIS IS NOT FINANCIAL ADVISE TO PLACE TRADES. PLEASE DO YOUR OWN RESEARCH AND ANALYSIS BEFORE BUYING/SELLING STOCKS.***
NYSE:SNOW
by Safe_Trades
SNOW may have found its bottomSNOW fell about 37% from ATH, a move that was catalyzed by the H&S break out. It is currently finding support for the 3rd consecutive day on the .786 fib retracement level. I added a few more shares to my position here with a very tight stop loss in case it continues to move down. Stochastic is curling up, which signals a potential change in the trend. Seems to the a good place to start a reversal, even if it turns out to be a slow one. ***If you get anything out of this TA, please like and follow for future updates and more TA. Thanks a lot!*** ***THE IDEAS SHARED HERE ARE MY OPINION. THIS IS NOT FINANCIAL ADVISE TO PLACE TRADES. PLEASE DO YOUR OWN RESEARCH AND ANALYSIS BEFORE BUYING/SELLING STOCKS.***
NYSE:SNOW
by Safe_Trades
13
SNOW 322 Retracement Target: 300, 280 and 250SNOW had an H&S topping pattern, the rapid post earning gains have all given back. Normally, one would expect a bounce, which could be to 350. But the 300 mil plus shares that become free tradable are very likely hit the market with plenty of supply, as holders waited until the new year to avoid the capital gain of 2020. Assuming 20% of the shares would come to the market, that would be 60 mil shares plus? The following are IPO price info and freed lock up share info, a stunning value ascending based on traders' hungry appetite. "The expiry of the lockup could weigh on share price accretion from here, as early holders sell and SNOW's free float rises from 32.2 million to 345.8 million shares in March 2021," Colville said. In September Snowflake kicked off trading at $245 a share, more than double its already lifted initial public offering price of $120, solidifying it as the largest software-focused IPO ever. Snowflake originally set a midpoint range of $80 a share, but raised it to a midpoint of $105." www.thestreet.com Technically SNOW has been in chop if we overlook the one-week stunning run of more than $200 on a $250 stock; and that 250 would be likely the base by Spring.
NYSE:SNOWShort
by Jonas99
4
FB 267 bearish until 250: broken daily support 267 & 200 MA 272FB advanced with vigor with a 5 EW move, until recently it started a corrective ABC move, of which we are in leg C that yet to complete. It has broken the daily 267 and 200 MA of 272. Likely test 250, as major support, and the previous gap-up line. Fundamentally, it is still a great business that yet to peak in earning power but we are in a market that money is chasing Newer and Shiny stories with rapid rotations. The large market is also likely entering a corrective move starting the new year when the delayed profit takers have sheltered their capital gain for 2020. And there is just so much easy profit from the lucky IPOs to absorb for the little guys playing with their real money.
NASDAQ:META
by Jonas99
3
Extremely Simple SNOW Long-Term Trade/InvestmentExtremely simple trade. SNOW is experiencing some price adjustment after experiencing a great rally for a few weeks. A classic "buy the dip" opportunity! I plan on doing two things once the SMI shows a bullish crossing: Purchase shares for my long-term investment portfolio Far OTM bullish put spreads w/ 2 month or greater expiration (depends on premiums) Hope you enjoy this simple trade idea! Don't forget to follow and like, as I post trade ideas daily. Happy trading!
NYSE:SNOWLong
by tacosaucewalkin