pvpatni

pvpatni

I can see a Long swing trade opportunity in SNOW. Stock is in downtrend, but recently it shows a fading wedge pattern towards the long term support with reduced volume showing loosing interest of sellers. And recently breaking out of the wedge hinting a reversal pattern and provides us with a Long opportunity. CMP : 128 SL: 120 T1: 143 T2: 168

pvpatni

After a downtrend we can see a break of the structure at support level right after a strong rejection of support and buyers coming in. Currently pair is trying to retest the resistance line. Consider entering in the Long position at 0.5975 - 0.5990 Range with a target price of 0.6098 Please let me know your thoughts about this analysis. Thanks!

pvpatni

Looking at the weekly chart which shows the breakout above rounded bottom. There are multiple trend breakouts we see. 1. Double bottom 2. Downtrend Line breakout 3. Rounded bottom (Neckline is at 153 level which in the past has acted as support and resistance both as shown in the chart with red circles) After all this we are seeing some kind of consolidation...