SNOW trade ideas
SNOW coming out of a wedge along a demand curveSNOW has a lot of potential from here. Also looks very good intraday today.
Very low risk entry point for SNOWPotential gain:+50%
Reward/Risk:>6
Timeframe: 4-6 wks
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$SNOW | Double Bottom and Bullish Falling Wedge [Update 3]$SNOW has been consolidating for way too long. It has now formed a double bottom on the hourly.
Watch for a breakout of the falling wedge for upside.
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Snowflake (#SNOW) - reversal - NYSE:SNOW
SNOWFLAKE #SNOW
- The stock has retraced from market high and stabilising at current level
- Fib extension level as possible TP
- MACD approaching reversal
- RSI low
Buy @ USD 281.25
TP @ USD 313.63
SL @ 260.73
SNOW rebound forming! NYSE:SNOW
keep close eye on SNOW, currently on the last wave of five, and 4 hr MACD already shows divergence, if Tech rebound, SNOW will form a pretty support for the days to come!
SNOWSnow poised for run up before earning next month. Major unconfirmed divergence spotted on daily. T1 likely before march 5
Snowflakes might be done going downMany indicators showing us the move is almost done, if it doesn't break previous support at the low,
the stock might have pump before lock-up ending.
SNOW LONGFour technicals saying it's going up.
1) horizontal support
2) major fib level
3) Bowls
4) low RSI
Bull flagWhite lines- channel
Yellow line - Support
Red line - Next support or target if yellow line folds
Green lines are targets if breakout
Keeps bumping its head on the channels (Needs Volume) for pattern to fulfill. My entry would be 280 with a 270 stop in place.
#SNOW Potential for both Bears and Bulls Snow is range bound and moving very tightly between both bull and bear trend line. long term outlook is bearish post lock up expires in March but for next 30-40 trading sessions it can go up to 320 if it breaks the trend lines or tight triangle it has formed. Most likely it will dip and probably gap down to 230 or 240. My bet is short at 280 - stop loss 284 and enter long if crosses 290
SNOW READY FOR A BLIZZARD !1! Snow on the daily is getting squeezed by a bullish pennant . MACD is looking ready to flip along with squeeze momentum finally finishing its sell off. With declining sell volume as well and SNOW consistently holding up its long term support line we could see SNOW gap up to its first price target of $330. Along with the trend analysis as seen we also have to take into account NASDAQ:MSFT earnings report released today stating that they had a 17% revenue increase because of cloud business. The future is SaaS and SNOW is looking ready to snow some cash !
SNOW Potential BreakoutWatch SNOW for a potential breakout here. It had a big drop from the last H & S and is recovering nicely.
