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SNOWFLAKE INCSNOWFLAKE INCSNOWFLAKE INC

SNOWFLAKE INC

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SNOW trade ideas

SNOW may have found its bottomSNOW fell about 37% from ATH, a move that was catalyzed by the H&S break out. It is currently finding support for the 3rd consecutive day on the .786 fib retracement level. I added a few more shares to my position here with a very tight stop loss in case it continues to move down. Stochastic is curling up, which signals a potential change in the trend. Seems to the a good place to start a reversal, even if it turns out to be a slow one. ***If you get anything out of this TA, please like and follow for future updates and more TA. Thanks a lot!*** ***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.***
NYSE:SNOW
by Safe_Trades
13
Rocky road ahead for SNOW?SNOW is currently trading below its 9 EMA and forming a broadening triangle pattern on its chart. Current levels could be signalling a bull trap. Closest resistance is $290-$291 level. Considering the second lockup period ending on Thursday, it's safe to say that we may after all see some selling. However, keep a lookout for a break of $284, which would break the current pattern and retest resistance at $290. Don't worry if we see some selling as it could give us an opportunity for buying into the long-term. Short-term, the stock has to calm down. You could buy puts at market open as follows: For this week's expiration - BTO 8 Jan 2021 $260 Put (highest volume) ($1.5) For next week's expiration - BTO 15 Jan 2021 $260 Put (more expensive compared to weekly expiration) ($4.5) Both trades are equally high risk/reward Good luck trading!
NYSE:SNOWShort
by UnknownUnicorn10016235
Head & shoulders pattern on SNOW.NYSE:SNOW It looks like the neckline for this head & shoulders pattern has been broken. Please be patience and wait for the price to drop to the highlighted demand zone, or even the measured level of this H&S pattern if you like this stock and wanna invest in it. (This is the most famous IPO in 2020 with blessing from Warren buffett:)) Alternatively if you wanna open a short position, the stop loss should be put above the right shoulder, and please expect the potential re-testing of neckline, it happens most of the time:) Cheers.
NYSE:SNOWShort
by JeffCheung
SNOW 322 Retracement Target: 300, 280 and 250SNOW had an H&S topping pattern, the rapid post earning gains have all given back. Normally, one would expect a bounce, which could be to 350. But the 300 mil plus shares that become free tradable are very likely hit the market with plenty of supply, as holders waited until the new year to avoid the capital gain of 2020. Assuming 20% of the shares would come to the market, that would be 60 mil shares plus? The following are IPO price info and freed lock up share info, a stunning value ascending based on traders' hungry appetite. "The expiry of the lockup could weigh on share price accretion from here, as early holders sell and SNOW's free float rises from 32.2 million to 345.8 million shares in March 2021," Colville said. In September Snowflake kicked off trading at $245 a share, more than double its already lifted initial public offering price of $120, solidifying it as the largest software-focused IPO ever. Snowflake originally set a midpoint range of $80 a share, but raised it to a midpoint of $105." www.thestreet.com Technically SNOW has been in chop if we overlook the one-week stunning run of more than $200 on a $250 stock; and that 250 would be likely the base by Spring.
NYSE:SNOWShort
by Jonas99
4