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SNOWFLAKE INCSNOWFLAKE INCSNOWFLAKE INC

SNOWFLAKE INC

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SNOW trade ideas

Short squeeze mini series# 13What Is a Short Squeeze? A short squeeze occurs when a stock or other asset jumps sharply higher, forcing traders who had bet that its price would fall, to buy it in order to forestall even greater losses. Their scramble to buy only adds to the upward pressure on the stock's price KEY TAKEAWAYS *A short squeeze accelerates a stock's price rise as short-sellers bail out to cut their losses. *Contrarian investors try to anticipate a short squeeze and buy stocks that demonstrate a strong short interest. *Both short-sellers and contrarians are making risky moves. A wise investor has additional reasons for shorting or buying that stock.
NYSE:SNOW
by samitrading
7
Falling pendant for SNOW finally showing some upward lifeSNOW has been in a falling pendant for weeks now, and I have continually expected it to break upwards. Now it finally seems to be making an upward move. It has held above a significant resistance/support range at 298-300 for several days, and it has bounced strongly off of that range on the hourly, intra-day chart. Possible resistance/target price points on the chart. I expect resistance around 320 to be the most significant. However, because SNOW has consolidated above 300 for several days now, I expect it to finally be able to break above 320 and make a significant run upwards next week. Earnings are coming up in early March, which will also attract increased interest in SNOW over the next few weeks. Stop loss at around 298, and if it does break 298, watch for it to find support around 285 or 265. If it finds support at either price point, I would pick up shares or long term, at the money options/leaps. Both price points have provided significant support (daily and intraday), and I think SNOW is a great long term investment. Current positions: SNOW 02/19/2021 270.00 C SNOW 02/19/2021 300.00 C SNOW 03/19/2021 290.00 C SNOW 03/19/2021 305.00 C Obviously these are my own opinions, so please do your own research and invest wisely.
NYSE:SNOWLong
by spdcons
2
continued snow bullish signalsGreat trading session on snow today. looking at the hourly chart we see that again, SNOW price rejecting that 298-300. the last time it touched this area the candlestick for that hour formed what appears to be a dragonfly doji. Great bullish sign for Snow to finally make a move. Additionally, The Golden Cross is beginning to come into play which is when the fast Moving Average of 50 goes above the slow Moving Average of 200. Also, looking at the MACD the selling pressure is diminishing and is showing that the buying pressure will soon go above the zero line. Today Snow had to close above 205.85 and it did. All these are continuous confirmation to be bullish on SNOW. The only concern is the amount of volume. We need a huge amount of volume and buying pressure to make this stock launch possibly to 340, which is my first TP. The good news is that Mondays are usually green with lots of trading volume so as expected next week might be the run for SNOW.
NYSE:SNOWLong
by miguelsique
2
SNOW (Snowflake Inc) Long to 428Snowflake has found support at 265 putting in a recent double bottom. Current resistance would be 318, with support at 298. Targets above 318 would be the golden mean reversal at 341, 360, 390, and eventually a retest of the all time highs at 428 We've broken the supply line with clear bullish divergence on the oscillators. Volume has slowed to the downside and short interest is also decreasing. Retesting for support, and its my opinion she'll be on her way! Under 285, id be bearish until we see a new swing high
NYSE:SNOWLong
by TradingNomadic
snow still looking bullishNot too much action today on SNOW. further consolidation between the 310 area and 300. If price falls below 298 then this trade might be considered invalid. but so far its been rejecting that range between 298-300. We need to see an accumulation of high volume tomorrow to see that massive uptrend many of us have been waiting on. after breaking out of the descending pennant Snow shows to be forming a bullish flag formation just waiting to make a run to the upside. I still see further consolidation forming before we see another attempt to go higher. The reason for that is because in the hourly chart we possibly see a golden crossover that is waiting to occur. a few more trading sessions can determine if this scenario will happen, which will give us further confirmation on a bullish view on SNOW. Looking at the daily chart, the MACD shows SNOW crossing over its signal line indicating more buying pressure flowing in. All these are great signs of a bullish scenario. There are still some bearish signals but we have more bullish confirmation vs bearish but I would still be cautious on this stock. continue to wait for confirmation and I recommend ( Not advise) if someone was to go long on this buy around 300 with a far out expiration date. Remember this is my personal view of Snows price action it is not a signal or an advice to buy. do your own DD and lets share ideas.
NYSE:SNOWLong
by miguelsique