SNOW trade ideas
Well, that went oddly well...A follow up from 2 weeks ago... Coincidence? Not really... I would be looking for just a little more pullback and then what? Well if the markets were bottomed, which they are a long ways from.. I would say buy in the higher 150s to 160 range. Being the markets still have a very large fall coming, I see this more of a netflix. If you must buy though... for whatever reason, I know there are many of you on this board... well target is pretty close to being reached. I personally would not be buying long here... exit the short and it's done. Check back when the markets are done coming down and re-evaluate.
$SNOW trading it 3/15below 164
150-155 would be target (intraday)
below 150 140 VERY possible... maybe an overnight or swing position if below 140 near close
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3/13/22 SNOWSnowflake, Inc. ( NYSE:SNOW )
Sector: Technology Services (Packaged Software)
Market Capitalization: $55.263B
Current Price: $180.42
Breakdown price: $185.00
Sell Zone (Top/Bottom Range): $231.00-$193.25
Price Target: $51.20-$48.80 (3rd)
Estimated Duration to Target: 111-120d (3rd)
Contract of Interest: $SNOW 6/17/22 180p
Trade price as of publish date: $26.75/contract
$SNOW - Near 52 week low and iH&S possiblySnowflake's 52wk low is $184.71. I would set the stop at 184.5. If there is a bounce before it reaches a new low, it could be an inverse head and shoulders and heading much higher. It is tough though as any company that is not cash flow positive is being beaten down with expectations their expenses will increase and margins will decrease which is why it is continuing lower. The risk/return is good here and is worth of watching further. Below $184.5 and there is no bottom resistance to hold it higher. If you are long, you really do not want to see it go lower than that level.
SNOW - Swing IdeaAfter a beat on earnings and a 480 price target, I see limited downside and great upside despite the poor growth forecast. SNOW is already approaching its 52 week low, and after this massive spike in volume, I'm hoping to see more momentum or sustained volume before taking a position. Both the RSI and MACD are in good position for a reversal, and again, volume is the only thing left.
Blue circle: Potential entry price/area
Red box: Stop loss
Green box: Take profit
$SNOW ChannelWith a disappointing earnings, looks like we're heading to the bottom of the multi-year channel. I would wait for us to test 200 before trying to play any bounce.
SNOW - Broken charts take long time to recoverlost trendline support on big volume...will continue to slide to ATL
For the kids playing earnings..Its a dangerous game at all times.. especially in a bear market. Sadly I know someone that followed their friend on this one and while the original person is just a total clown, I feel bad for the one that followed him into this one before earnings thinking it was going to rocket up. Everything about this chart says bearish (not charted here, sorry). What were they thinking???? See you at 160... (any pullback is just a chance to get in short)
SNOW price target after Disappointing Growth ForecastSnowflake is facing strong competition from Microsoft's Azure and Amazon's Web Services.
Snowflake expects product revenue for fiscal 2023 to grow between 65% and 67%, lower than 2022's 106%.
In Q4 SNOW posted total revenue of $383.8 million, beating analysts' average estimate of $372.6 million.
In 2021 they had 592Mil in revenue and negative earnings of 539Mil. The market cap was 81.075Bil yesterday.
SNOW Snowflake went public in September 2020 at $120 a share.
After the Disappointing Growth Forecast and a head and shoulders bearish chart pattern, my price target is $185!
Looking forward to read your opinion about it.
SNOW poised to meltAnother money losing covid era IPO with failed double top. This company reports "earnings" on March 2. The last 3 annual reports have posted larger losses than the prior year. The era of fed induced stimulus and QE with bubblelicios low interest rates is over. This stock looks to be printing a death cross in the coming days same as NOW and CRM. Look out below!!
305 Resistance - 18Mar puts for swing tradeI am giving this trade more time than I usually do to avoid theta decay and to allow time for significant selling. If another market selloff starts soon, RSI will move back below 50 and I will see other indications to hold. I am using limited capital so I can hold for at least one week, even if price moves higher. Also I bought puts when stock was around 298, so I have to allow 305 to hold as resistance and still accept the loss if I have to exit.
SNOW is going downIt looks like we are finally rotating and by 28'th of JAN we made a low which violates mid-DEC low what indicates that money is flowing out from this stock. First nested cycle had it's low on 28'th of JAN what indicates that bigger cycle should be also negative and we should continue selloff till end of MARCH. 200$ is on the table, if market collapses 100+
Snowflake Analysis 10.02.2022Hello Traders,
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$SNOW - IHS? Seeing an IHS form. This is known to be a volatile stock but one that I continue to love.
I am holding my core and adding as the pattern confirms. Sell target is $380.
SNOWConfirmed a falling wedge reversal bullish pattern with a megaphone bottom. Expecting a move to the upside.
I THINK ITS THE TIME most of stocks depends on teslas trend . this one looks alright to me . just wait for a breakout and your back to moon . remember , keep leverage low. happy trading.
SNOW cup and handlePotential cup and handle on SNOW, has retraced to the golden pocket area. A break through this pocket would invalidate the trade and would create a PT of $185
SNOW: Short Swing TradeInverted hammer closing below the 200SMA. Bearish sign although weekly support could limit risk/reward.
SNOW: BOUNCE CANDIDATE?SNOW :
I put SNOW in the bounce candidate and potential continuation upward list. Why?
1. We retraced 50% of the move that started in May. This level is good to initiate a long trade because it allows you to place a stop loss not too far below the line.
2. Demark Sequential is on a 9 daily. (More details below on Demark indicators)
3. The chart looks like a big cup and handle and it seems that we are at the bottom of the handle. The top of the cup is 405. This one is very subjective though.
Depending on how markets open, I will look for a long entry . Swing trade .
My initial target will be 320-330, then I'll reassess. The success of the trade will depend on how Nasdaq behaves so I'll be careful and monitor the indexes closely.
If the trade fails, another interesting level will be around 268.
Note:
DeMark Indicators are designed to anticipate turning points in the market.
A Buy Setup occurs when there are 9 consecutive closes less than the close four days earlier.
Trade safe!
$SNOW, trading it 1/14For 1/14, intraday trading ideas for options; For red or green market day. #options #daytrading
Break over 301 (entry, long), it can see 309-314 (exit)
Break below 290 (entry, short), it can see 277-282 (exit)
Option Trading 101:
Risk what you can lose (0.5%-5%)
Watch buyers and sellers (their interactions & sentiment, ex. exhaustion of buying or selling, etc.) in strikes that you’re watching & the ticker too; this is how YOU manage YOUR trade.
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