SNOW - Relative strength in Artificial Intelligence namesMid-term idea. Nice bounce back to the demand zone 210-220. Let's see how the price will act on these levels.
Snowflake
$SNOW trying to break out of descending trendline$SNOW, arguably the biggest beneficiary of the world transitioning to cloud, is on the verge of breaking out of its descending trendline.
Nice formation forming in an uptrendWe can see a nice resistance there, but the higher lows are in place, so soon we can see a nice breakout and way to the sma100. Would love to see it breaking
SNOWFLAKE ready to melt up?$SNOW showing signs of life after a downtrend
* BUY signal fired on Ultimate Stock Indicator
* Ripster EMA cloud turned green
* Looking for volume for entry.
To find out more about The Ultimate Stock Indicator on Tradingview, please check my public profile. 🚀🚀🚀🚀
SNOW just broke out!We just broke out from the falling wedge.
Bullish divergence points to this being a bullish trend reversal.
$SNOW Inverse Head and Shoulders Reversal 4/14 Video breakdown to $SNOW We are watching this AM. Has a potential reversal coming soon.
$SNOW Imminent EMA crossSNOW has been beaten down below IPO price and has completed a descending trend, looking to break out. A daily 8EMA to 21EMA crossover should indicate A bullish move towards some upside. Even if this move is just a corrective wave with more downside, the trend will push this to the .618 and decide what to do from there. Looking to add longs if it moves over 242.67 and holds that level. The move above should come quick too, using the VWAP from the highs as a magnet.
SNOW longer term Call Options expiring 2022.SNOW measured move in equality into wave C support at about 212 is a buyable level. Look to establish LEAPs on SNOW expiring 2022. With stops below 200.
SNOW: Rising Wedge, Bearish Divergence, Hitting ResistanceDescription of thought process on the chart. Kinda 50-50 in confidence, since nothing in this market does what it's supposed to do :)
Can fall back if fails 242 test, long if closes above 244.
Let me know if you see different pattern/direction.
Not an investment advice.
SNOW potential Cypher completion into take profitsSNOW 65 min chart into 786 cypher completion.
Any gap up is potentially sold into TP1 the 38.2 fibonacci retracement off pattern completed Friday into close.
$SNOW Potential Bottom PickingNow that the trading week is over, we can take a closer look at how the broader markets have performed. For the most part of the week, the markets appeared to be quite choppy but now looking like we can potentially start moving higher.
If that is the case, then I think there is a potential here to bottom pick a high flying enterprise software company called Snowflake. At one point this stock was trading over 150x price to sales. It might sound ridiculous but in a controlled market where you have massive money printing, I don't think the majority of market participants are buying for fundamental cash flow. Instead, the markets appear to be competing for market share as there are only 100% possible owners of a company. :)
All in all, I categorized this technical setup as a reversal play and if the broader markets can rally then I think $SNOW can run up quite substantially for the short to mid term trader.
- EnterpriseGuy
LONG SNOWClassic bullish divergence on the daily. This is probably kind of late to publish the idea. The perfect entry was around 230. However, it still has run to go. I bought a few shares, and already sold half of the position to book profits and will let this run. This is a technical, but also a fundamental play, and I love to hold stocks like this on my long term portfolio.
SNOWFLAKE Stock Should Be On Your WatchlistSince the stock was listed on NYSE, it has rallied to a high @ 429, and now the stock price is near its all-time-low. If there is a break below this low with rejection (on high volume), that could be the reversal indication. This is a stock to be on your watchlist!!!
N.B
- Let emotions and sentiments work for you
-ALWAYS Use Proper Risk Management In Your Trades
$SNOW still in price discovery mode.Charting for a friend.
Will try to work with what I have, but with what I have here, there's really not enough data or price confirmation to pinpoint any other than that we are in a price discovery territory.
As such, Wave B might not even have ended its run and may dip even lower.
An assumption that Wave B has completed is generous indeed, and in such circumstances, a Wave C climb will set a TP of $428.
However, it will be wise to stay on the sidelines for this one, for now.
SNOWFLAKE: 2 HEAD & SHOULDER IN 1 We found 2 Head & Shoulder Formation. You can find them on Chart: one with WHITE LABELS and one with RED LABELS.
The Technical Analysis suggests us 2 TARGETS:
1️⃣ TARGET @ 180 $
2️⃣ TARGET @ 110 $
ENJOY YOUR TRADE 💪🏻
Snowflake party ❄Of all the trades I've ever taken, this is the one I am most looking forward to.
I'm giving Snowflake a modest upside target of $1100 quite possibly even by the end of this year. I'll update my wave analysis on how we get to that target as we begin to move along.
Here's the thing though: I refuse to buy it unless it gets down into my golden zone of 287. If it does, champagnes on me.
Time for Snowwwww There is both double bottom and bull flag formation on this chart. If it pass 330 level then it is aim is to reach 383 immediately... (Probably it will hit 400 )
I am taking it at this level. Good luck.
US stock - SNOWFLAKE reversal chartIn US stock market, SNOW have some reversal pattern.
- Stand above 21EMA now
- 2 Pull back (around 19% - 30%) and strong support level around 264.5
- Volume is increasing when the price going up on yesterday
- Lowest ATR since Nov
- We can see there may have a reversal and go back to a higher price
My buy point: 298.8
This is not financial advice. Just my point of view.
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!
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***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.***
