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1SNOW trade ideas

5/22/24 - $snow - tough valuation bar into print, buyer beware5/22/24 - vrockstar - NYSE:SNOW - >10x sales for 20% sales growth is a tough rubicon to cross with conviction in this mkt w/ many faster growers at better valuations. nevermind PE... at >100x, which is the inferior metric here mainly b/c the sales optic is so egregious. i'd counterpoint myself by saying 2% fcf yield looks good... but it's... all... stock... comp... for a stock that's going up/ i give a pass. but for a stock that's down and to the right, friends, let's be real, this is a cash expense. they issue shares, buy the shares back. it's the same thing as paying the employees in cash. so basically they're not generating a true 2% fcf yield. i'd stay away from this generally. not clear on what the print brings, but it's a candidate to be sent down 20% like other B2B and VERY UNLIKELY the converse is true. so the risk reward is defn lower vs. higher. BUYER BEWARE.
NYSE:SNOWShort
by VROCKSTAR
SNOW Gap over structureNYSE:SNOW is gapping up on earnings. I am looking for an entry at 167.22 or 170.07 for calls to 175-185. I am risking $1 to make $5-10 on this trade. If it gaps over the level I will enter on a retest. If it gaps slightly below, I will wait for a break above and retest. This fits all of my criteria for my favorite type of setup. A gap over a structure/range area and a multiple day consolidation. My #1 requirement for every trade is a high R ratio. I must see potential for a large run to even consider it.
NYSE:SNOWLong
by traderjoe3126
Snowflake Beats Q2 Product Revenue Above Wall Street Estimates Snowflake ( NYSE:SNOW ) expects strong Q2 as AI push boosts demand for cloud services. The company forecasted second-quarter product revenue above Wall Street estimates and raised its expectations for the year, on strong demand for its cloud-based services amid a surge in use of generative artificial intelligence. Shares rose 4% after the bell as the data cloud analytics company also said it plans to acquire technology assets and hire 35 employees from TruEra, an AI observability platform. The company had in April launched Snowflake Arctic, a large language model that draws from massive amounts of text to generate responses to queries and is optimized for complex enterprise workloads. Companies are increasingly moving from traditional to cloud-based solutions, looking to integrate digital and more cost-effective processes since the pandemic, benefiting cloud-related services firms such as Snowflake ( NYSE:SNOW ). Snowflake ( NYSE:SNOW ) forecast product revenue in the range of $805 million to $810 million for the second quarter, above analysts' average estimate of $785 million, according to LSEG data. For 2025, Snowflake ( NYSE:SNOW ) expects product revenue at $3.30 billion, up from a prior forecast of $3.25 billion. For the first quarter ended April 30, Snowflake ( NYSE:SNOW ) posted a 34% rise in product revenue to $789.6 million, beating expectations of $747.9 million. Total revenue came in at $828.7 million. Product revenue, which makes up the bulk of Snowflake's business, will be $805 million to $810 million in the period ending in July, the company said Wednesday in a statement. Analysts, on average, predicted $787.5 million, according to data compiled by Bloomberg. The company also raised its fiscal year product sales forecast to $3.3 billion from $3.25 billion. This is the first full quarter that Sridhar Ramaswamy, a former Google executive and co-founder of search startup Neeva, has been Snowflake's chief executive officer. He needs to reaccelerate growth at the maker of cloud-based analytics software while fending off competition from rivals including Databricks Inc. While the outlook was stronger than expected, it still represents slowing revenue growth and may not appease investors who are bearish on the stock. Snowflake ( NYSE:SNOW ) CEO Sridhar Ramaswamy has hinted at collaboration with AI giant Nvidia in a recent interview with CNBC's Jim Cramer. Ramaswamy teased new product announcements at the company's Data Cloud Summit conference in June, which will feature a talk with Nvidia CEO Jensen Huang. He said that Snowflake is "super excited by the promise of accelerated computing" and that the company's enterprise customer base is growing. He also mentioned that Snowflake's AI offerings can analyze customer feedback data to help determine automated responses to questions. Technical Outlook Snowflake ( NYSE:SNOW ) stock closed Wednesday's trading session on a clean slate with a Relative Strength Index (RSI) of 55.34 which was quite moderate. The stock is up 7.20% in Thursday's Pre-market trading.
NYSE:SNOWLong
by DEXWireNews
levels to trade $SNOW into August 2024Snowflake Inc. (SNOW) is scheduled to release its earnings report on May 22, 2024. Here are some key details: Expected EPS: The consensus estimate for earnings per share (EPS) is $0.17, reflecting a year-over-year increase of 13.33%. Previous Earnings: In the last quarter (Q4 2024), Snowflake reported adjusted EPS of 15 cents, beating analysts’ expectations, and revenue of $624 million. Historical Performance: In Q1 2024, Snowflake’s adjusted EPS was 5 cents, while revenue reached $607.57 million. Long-Term Outlook: Analysts expect Snowflake’s EPS to decrease from ($1.83) to ($1.97) per share in the coming year.
NYSE:SNOWLong
by KhanhC.Hoang
2
Snowflake - going to miss the earnings?!Today, Snowflake’s earnings are due, and it’s an important event to watch. Looking at the stock’s history since its debut on the New York Stock Exchange in September 2020, we can identify a crucial zone that initially acted as support but has since turned into a resistance zone. We’ve seen attempts to break above this resistance at around $210, but these have been unsuccessful, with the price falling back below this level leaving behind an earnings gap. Currently, we have what can be referred to as the "Mother-of-all-Trend-Lines." These are two trendlines running parallel, forming a channel that has been critical in maintaining the chart’s structure. This channel is crucial for holding the overall trend of the chart. For Snowflake to realize its upward potential, it needs to sustain these trendlines and break above the resistance zone at $210. Successfully flipping this resistance into support, particularly with the support of the high-volume node, is essential for a push upwards, unlike what happened at the beginning of 2024. While there is significant upside potential for Snowflake, it will take time. The stock must not only hold the "Mother-of-all-Trend-Lines" but also convincingly break and maintain the $210 resistance level. A closer look at Snowflake reveals that the high-volume node (HVN) plays a critical role in the chart's overall structure. The upper edge of this HVN has worked with the resistance zone, serving as a strong resistance point. Meanwhile, the lower edge has acted as a solid support line, holding up the price on four occasions. We could see another test of the Point-of-Control (POC) before potentially moving higher. There's a significant earnings gap of approximately 14% that needs to be closed. According to typical charting techniques, all gaps are eventually closed; the question is only when. We believe that this gap will be at least tested. Whether it will be fully closed depends on if the resistance zone around $210 can be flipped into support. If Snowflake fails to flip this resistance, we might only see a gap test followed by another sell-off. The situation remains uncertain, so we plan to stay on the sidelines for now, closely monitoring the developments. We will observe how the stock behaves around the POC and the resistance zone to determine our next move.
NYSE:SNOW
by stromm_by_wmc
Am I the only one seeing this obvious SNOW breakout signal?Hello to anyone new to my analysis - I’m typically a video person because it’s hard for me to truly share the story of a chart like I do in my videos in a plain form such as the one I’m attempting here. (No disrespect for those who don’t like videos! I just want to share knowledge if it helps anyone). Anyway! We’re looking at a daily chart here and there’s quite a clear head and shoulders forming which created beautiful left shoulder liquidity and is in the process of building the second as it attempts to break out. For those who don’t trade “chart patterns” - they are simply an alternative way of seeing how the internal workings of the market are playing out. For example, Similar to a h&s is a cup and handle which is where we have price that more sellers than buyers agree on. This creates a “resistance level” similar to the pink one we have on the chart. The ensuing drop is simply to allow 1. Sellers to enter the market, set stop losses above the resistance level, and eventually take profit and become buyers again. I.E. LIQUIDITY! Liquidity is that building of buy and sell orders, limit orders, stop losses, take profits, etc. so that when we finally have enough buyers in at a high enough agreed upon price, large “institutional” buyers can return to that “resistance level” and smash through it - hitting stop losses, creating new buyers, and there you have a breakout! Sorrry for the tangent - even though my trading is almost fully based off of technical analysis and what money would just call trend lines - what it really is built on and what I teach all to my students first is market dynamics and how and why all this movement happens - and then, with what I’ve studied and built over the past few years, I can analyze a chart and identify when there moves will happen and where we can see them going before market dynamics/i.e more liquidity is required for further movement. It’s a fun and simple game. I dont go into it in depth here on this analysis but that’s what you will find in my video. Back to SNOW - we can see clear TAPERING happening - the key to all reversals - from red selling to yellow more tapered selling. Meaning, sellers intention is weakening and we can activate a buying continuation such as the white or green to grab all the liquidity and break us out to the upside. Of course we will need to activate a strong buying continuation to make real movement and I will be doing a much more in depth video on this tmrw to understand what a confirmation and entry could look like here. Currently retesting a breakout of strong selling red so let’s see if we can an activation and confirmation of white. There are lower time frame signals that I will go through in my video that are signaling that happening so that we will be able to get a pinpoint entry trade as we’re always looking for. Thanks for checking this out hope it was helpful - as always I’m happy to connect with anyone who has further questions or recommendations. And of course this is for educational purposes only. Please check out my videos for furthrr analysis like this and much better! Happy Trading :)
NYSE:SNOWLong
by ReigningTrades
SNOWFLAKE $SNOW | Potential Scenarios and Key ObservationsNYSE:SNOW Currently, SNOW is in an upward channel but has experienced strong movement to the downside. It is now trading below the 200 SMA trendline. It's important to note that SNOW is currently oversold, and an RSI divergence has occurred within this oversold area. My indicator also reveals that shortly after an oversold RSI divergence occurred, the price reacted strongly to it. Nevertheless, I would like to see one of two possible next moves before considering a long position. Scenario 1: SNOW rebounds, tests the 200 SMA, gets rejected, and heads towards the bullish gap below the current price. In this area, I would like to see a strong reaction, possibly indicated by a significant spike in volume accompanied by a rejection candle. Scenario 2: SNOW falls directly into the bullish gap below and strongly rejects this area. In this scenario, I would like to see the gap closed by a candle with an above-average wick rejection and a spike in volume to confirm buyer commitment. In terms of the bigger picture, although the stock price is in a small upward trend, movements in both directions have similar strength. Volume spikes occur when the price reaches either the upper or lower level of the channel.
NYSE:SNOWLong
by Karoshi-Trading