SNWF trade ideas
SNOW longer term Call Options expiring 2022.SNOW measured move in equality into wave C support at about 212 is a buyable level. Look to establish LEAPs on SNOW expiring 2022. With stops below 200.
SNOW: Rising Wedge, Bearish Divergence, Hitting ResistanceDescription of thought process on the chart. Kinda 50-50 in confidence, since nothing in this market does what it's supposed to do :)
Can fall back if fails 242 test, long if closes above 244.
Let me know if you see different pattern/direction.
Not an investment advice.
SNOW About to Break Up!!SNOW is reaching old resistance, if it breaks above with volumes I can see a few green days in the future. Overall this stock is on sale and should be a good buy.
SNOW 8/21 DMA cross setting on supply zone -Bullish Snow setting up for a big move here. 8-21 DMA cross just happened on the daily chart. Sitting right on the 233 support level. This one can move fast so if it can see volume it could be explosive. Growth stocks were crushed in March so maybe we see a nice reversal here. Buy some time and looking at 250 calls for later April.
SNOW - 4H - SHORT TERM BREAKOUTSHORT TERM BREAKOUT AS FIBONACCI LEVELS CAN BE RETRACED TO 0.38 AT WHICH POINT PROFIT CAN BE TAKEN, UNLESS IT PASSES TO 0.5 WHICH WIL IMPLY BREAK OF THE DOWNWARD TREND FOR FURTHER RISE IN PRICE, BULLISH ENGULFING CANDLES ALSO SIGNIFIES A CHANGE IN THE STOCK DIRECTION. THIS COULD PLAY OUT ALL THE WAY TO THE 200DMA
SNOW potential Cypher completion into take profitsSNOW 65 min chart into 786 cypher completion.
Any gap up is potentially sold into TP1 the 38.2 fibonacci retracement off pattern completed Friday into close.
$SNOW Potential Bottom PickingNow that the trading week is over, we can take a closer look at how the broader markets have performed. For the most part of the week, the markets appeared to be quite choppy but now looking like we can potentially start moving higher.
If that is the case, then I think there is a potential here to bottom pick a high flying enterprise software company called Snowflake. At one point this stock was trading over 150x price to sales. It might sound ridiculous but in a controlled market where you have massive money printing, I don't think the majority of market participants are buying for fundamental cash flow. Instead, the markets appear to be competing for market share as there are only 100% possible owners of a company. :)
All in all, I categorized this technical setup as a reversal play and if the broader markets can rally then I think $SNOW can run up quite substantially for the short to mid term trader.
- EnterpriseGuy
Time to show up or blow upSnowflake is hitting Support at all time lows. If it breaks the support, you can expect it to fall further.
$SNOW
$SNOW - The last time it had volume was a sell-off to the all-time low right after earnings. There is no momentum, negative biased, and needs many buyers to break out of the triangle.
$SNOW- Possible Breakout Play$SNOW has completed a descending wedge formation and in the past months, this has lead to a breakout. They are in a heavy support zone as well. Target $265, stop loss at $212. Good Luck!
SNOW, WILL IT HAPPEN AGAIN?Hello fellow traders and investors, here's another trade idea.
SNOW has recently been pulling back and previously makes a breakout above the trendlines, if PTON makes a recovery to the take profit area it offers around a 40% ROI.
Technicals:
The Macd indicates that it's oversold
The EMA's are in a downtrend
The RSI is oversold
When To Buy:
When the Macd crosses its EMA
When the EMA's crossover
When To Sell:
I recommend selling at its previous high offering around a 40% ROI.
Fundamentals: SNOW provides a cloud-based data storing software that provides data warehouse modernization, accelerating analytics and overall productivity. They have a P/S of 103 which is a lot, sales growth Q/Q of 118.60% which is amazing however their earnings per share growth Q/Q of -218% isn't good at all however with their amazing return on investment of 66% they should be able to fix this is in a few years and finally, a short float of 17% which could easily cause a short squeeze if it breaks out over the trendline and investors and traders start buying they will have to cover their positions.
Rating: 50/100 since their technicals look okay and their EPS and P/S isn't looking too strong their rating will have to be 40/100 however if this meets your criteria feel free to add it to your watchlist.
I hope you enjoyed this quick analysis and many more to come.
If you enjoyed leave a like, follow, comment your thoughts and share this trade idea.
Thanks.
SNOW - Close to break outSNOW is currently in bearish channel. it is also close to long term support at $210. if it break below that it will below that puts should be good. above the white descending line the stock is bullish.
SNOWMID-TERM: Double bottom at a previous support with classic bullish divergence on the daily. (not financial advice)
SNOW - time to get in! 1. Wedge formation; bullish candle close on the bottom trend line
2. Impending MACD bullish crossover; RSI above to trend
3. Lock up expiration completed on March 15th so this dip last week was expected.
TP1 : 280
TP2 : 320
SNOW Long Possible double bottom
in Demand zone
Entry 218
Stop 205
Target 270
I am not a PRO trader. I trade option to test my trading plan with small cost.
The max Risk of each plan is less than 1% of my account.
If you like this idea, please use SIM/Demo account to try it.
