Let It $SNOW, Let It $SNOW, Let It $SNOW - Bullish above 342I think Snowflake is finding some great support in the 315-340 range as the Gravestone Doji from its ATH of 429 played out.
Today (12/16/2020) it bounced nicely off of the 21-day moving average (purple on chart), and from here, I'm a buyer on the breakout above 342.
If the Nasdaq and market holds up, I see no reason why this can't rally back and get a new closing high in January 2021.
SNOW trade ideas
$SNOW - cleared to take off$SNOW is strong. Perhaps the most expensive stock in tech, but the market doesn't seem to care that much. We are trading the possibilities.
#tradeidea
Broken Wing Butterfly
+1 Dec 24 $355c
-2 Dec 24 $360c
+1 Dec 24 $362.5c
Cost bases: ~$0.80 ~ 1.2 (bit spready on long strikes)
Max $400 profit
profit above $355.77
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!
SnowFlake to 500 Still in play, calls not changed from last weekBuy the Dip until proven otherwise in Bull trends!
Correction probably due to profit taking/ selling in anticipation of Dec 14 Snow Lock up Expiry
Elliot wave theory suggests another wave 5 to come, with wave 4 correction.
Descending wedge on correction - higher probability of upside move
I have bought early at 377, a bit early in hind sight, But If you see my previous posts I sold the local top area on 8 Dec so I am actually re buying more shares by selling high and buying more lower.
Buying more at current levels on Monday open.
These are opportunities to make money.
Buy during fear and the rewards are greater than buying in areas without fear.
SNOW TO 500!!
SNOW - money flowing out of this name to new IPOsSNOW was the new shiny thing - up over 75% of the IPO price in just over 50 some trading days.
Now the new kids are in town. $DASH $ABNB
$DASH IPO coincided with QQQ sell off.
$ABNB is coming Thursday.
SNOW is selling and more down trend in QQQ to be expected. Profit taking time?
Playing PUTs when the price hits as high as $383 on the bounce.
Price Target $340
BUY THE DIP | $SNOW LONGBUY THE DIP! Good morning traders, as we look at SNOW on larger timeframes we see a well-needed correction after this IPO made a push toward even more all-time highs. This week could be the last of being able to grab it around this price.
Looking at price action, there are a few things to consider starting with the retest of $301. $301 shows as a strong level first as resistance, now as support (if it holds). SNOW is a buy
DCJ | Happy Holidays