SNOW Testing Support for 6th time
SNOW testing the wedge support once again. Move up rejected at the VWAP from recent high.
SNOWD trade ideas
SNOW at support level - will it hold?
Support at anchored VWAP from recent low and at bottom of wedge. Will stop out tomorrow if the support breaks.
$SNOW Setting up It is essential to exercise patience and caution in your trading strategies. One such approach is to **allow the market price to come to you, instead of chasing after it impulsively.**
In the case of NYSE:SNOW ,
**puts below the 135 zone
and
calls above the 148 zone.**
However, it is imperative to exercise restraint and not rush into any day trades or swings without proper candlestick confirmation. (1-3)
It is crucial to note that impulsive trading decisions can lead to costly mistakes and result in unnecessary losses. As a trader, you must have a clear understanding of the market trends, indicators, and risk management techniques. Patience and discipline are the keys to success in the trading game, and it is essential to develop and maintain these qualities.
Additionally, having a solid trading plan in place and sticking to it can help you stay focused and avoid making impulsive decisions. This includes having well-defined entry and exit points, stop loss orders, and profit targets based on your analysis and risk tolerance.
Remember, trading is not a get-rich-quick scheme, but a long-term game of skill and strategy. With the right approach, mindset, and tools, you can become a successful trader and achieve your financial goals. Stay patient, stay disciplined, and stay focused on your trading plan, and success will surely follow.
Snow is bullish on hourly chartI have been watching SNOW on hourly chart for a week.
This week it is just trading weekly S3 pivot (camarilla)
My rsi strategy triggered buy earlier and now it triggered add position
There is divergence in momentum ( bottom indicator on the chart) , price is coming down near S3 , but momentum indicator is going up
Momentum indicator also has squeeze feature(by LazyBear) … on this indicator it shows that squeeze has just released. (Red crosses on the middle line turned grey/blue)
All these confirms upside prediction
This is not a recommendation, it is just published for education purpose. Please do your research before taking any position on this.
SNOWFLAKE Stock Chart Fibonacci Analysis 041023Trading Idea
1) Find a FIBO slingshot
2) Check FIBO 61.80% level
3) Entry Point > 142/61.80%
SNOW - Falling Trend Channel [MID TERM]- SNOW A is in a falling trend channel in the medium long term.
- SNOW has broken a resistance level in the short term and given a positive signal for the short-term trading range.
- SNOW is testing resistance at 150 become support.
- This could give a negative reaction, but an upward breakthrough of 150 means a positive signal.
- The stock is overall assessed as technically negative for the medium long term.
-
*EP: Enter Price, SL: Support, TP: Take Profit, CL: Cut Loss, TF: Time Frame, RST: Resistance, RTS: Resistance to be Support LT TP: Long Term Target Price
Verify it first and believe later.
WavePoint ❤️
See ya at 230 It might be gearing up to hit 230 in 3 months. It must stay above 125 on a weekly basis.
$SNOW - Looking good for reversal play$SNOW#Snowflake looks good for bullish reversal play.
Target 1 - $151
Target 2 - $178
Target 3 - $215
Risk - fall to $117
——
Trade is done when it hit one of the target or stop loss is hit.
Disclaimer: Trading note. Not an investment advice.
Snowflake: Snowed Under ❄️Snowflake seems to be snowed under with work. The share has a great deal to do, but is currently delaying the anticipated ascent, gradually sagging towards the support at $110.27. There is a 33% chance that the course might drop below this mark, thus developing wave alt.2 in turquoise earlier already. However, we primarily expect it to climb above the resistance at $205.66 first to lodge the top of wave x in magenta before moving downwards again. Wave 2 in turquoise should then return Snowflake below $205.66 and carry it below the support at $110.27, introducing fresh upwards movement afterward.
Snowflake - Fade Bears On Another Earnings DumpWhen it comes to tech stuff, I'm a contrarian and actually believe that Nasdaq is heading to 14,000+.However, as seen in my call below, I'm still expecting more of a bear trap than we've currently had.
Nasdaq NQ QQQ - Reality Will Be a Tough Pill for Permabears
I simply don't believe that, based on the price action of the markets over the last 6 and 8 months, that wobbly fundamentals and the Federal Reserve continuing to hike rates is going to be what crashes the market. All markets act like they bottomed in October and November of 2022, which to me says that prices must go higher.
That being said, I also believe that a severe market crash lies ahead in the future, but I believe that the timing for it to unfold is July or August of this year. I also believe that geopolitical issues will be what cause the crash, not the Fed, and there are a number of them:
1. The Chinese Communist Party has lost millions of people to Wuhan Pneumonia. The situation is so much worse than the 90,000 deaths the lying communist regime claims that it's scary. This ultimately leads to China's infrastructure, military, law enforcement, and the Party itself being extremely weak.
2. Russia v Ukraine is set to escalate shortly, and the war isn't one bit "Russia v Ukraine," it's Russia versus the U.S.-led NATO block
3. Natural, manmade, and environmental disasters abound in this world and go unreported. One day, one of them will hit the United States and it will shock the markets.
But the big one is #1. The fundamental problem for the world is everything about the world's oldest country right now revolves around the CCP's almost 24-year-long persecution of Falun Gong meditation. The Party has killed so many practitioners for their spiritual beliefs, and even committed the unprecedented sin of live organ harvesting, a sin that even Nero didn't commit in the persecution of Christians 2,000 years ago.
Because Wall Street and the governments around the world have been providing financial, material, and political support to the regime over the entire course of the 24 year persecution, this inherently means that when the CCP falls and all the skeletons come out of the closet, you're going to have a hard time finding a place in the world that has clean hands.
When that unfolds, it will really be hard for the market makers to keep making the market. The house of cards will really crumble. Educate yourself on the topic and go see Shen Yun when it performs in your area and see what China's dynasties were really like.
As for the call, Snowflake had some good earnings but cut its growth outlook. This is a stock that trades in these really wide $40 and $50 ranges and has a Tesla-style volatility. Nonetheless, we're down 7% in postmarket and it should dump even further than that tomorrow when the markets open.
We can tell from the long term price action that January's low was a clear stop raid, which turned around and took out two big daily pivots. It's a little early, being the very beginning of March, for a new LOY to be set, in my opinion.
But it's not too early to bear trap and liquidate longs. What I'm really looking to see is the $130 - $135 range in conjunction with the Nasdaq hitting 11,500 range. This price corresponds with the 79% retrace and is a big discount to overall range equilibrium since Snowflake dumped from its COVID pump mania highs.
Target to the upside would be $185, taking out the October pivot. Hard not to like a $50 move on a $130 stock.
You want to buy red and sell green, but this gets hard when red is followed by red and green is followed by green. All and all, I still say fade the bear hype.
When the doom really comes to these markets, it's going to catch everyone off guard. It's not going to come at a time when the Fed has slowed hiking to 0.25% and CPI is only printing 6%.
SNOW-BEARISH SCENARIOYesterday, Snowflake, announced financial results for its fourth quarter and full year of fiscal 2023, ending January 31, 2023. Revenue for the quarter was $589.0 million, representing 53% year-over-year growth. Product revenue for the quarter was $555.3 million, representing 54% year-over-year growth. The remaining performance obligations were $3.7 billion, representing 38% year-over-year growth.
Due to a disappointing growth outlook, the downtrend is more likely to continue
Re-test of the $ 110 support level is expected.
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SNOW is falling upSNOW appears to trade in channels until it reverses.
Additionally, it formed a nice cup and handle for the last six months.
Catch the 5th leg of Bullish SNOWThe short term bullish wave of SNOW has completed 4th wave retracement.
Price an entry below market close yesterday.
Due short term bullish, i would take conservative TP below the pprevious swing high.
May the wave be with you !
Snowflake over sold for a bounceSnowflake is over sold and in a good position for a possible 20% bounce before hitting the downward resistance line.
SNOW with a potential short term bounce.Here we are looking at SNOW on the Daily TF.
I would like to draw your attention to the up sloping Yellow trend line.
If the price action closes below this trend line we can expect further downside action.
The next target for SNOW is to the Green support line.
Once the price hits the Green support line, you can look for a couple day bounce possibly back up to the Yellow support line.
Once the Yellow support line is broken and price action comes back up to it, that same support line will then become resistance and could even be a good short level.
What do you think is going to happen with snow in the next few days?
Let me know in the comments.
Cheers.
SNOW TAI promised an update on a more clear direction and well heres what I see for now. This pattern is known as the Bearish Symmetrical Triangle and pretty much goes as follows. A failure on this would be a break above where pt 5 is at.
SNOW TA for the WeekOnly thing major that's worth mentioning is the Symmetrical Triangle on the weekly and the daily time frames. Other than that the rest is the 1hr-4hr demand and supply zones. Depends on when i see a break out or a break under for the triangle will determine my position on it, for now neutral.
SNOW Snowflake Options Ahead Of EarningsIf you haven`t sold the Head and Shoulders bearish chart pattern:
or played the reversal last time:
Now looking at the SNOW Snowflake options chain ahead of earnings , i would buy the $150 strike price Calls with
2022-12-16 expiration date for about
$10.30 premium.
If the options turn out to be profitable Before the earnings release, i would sell at least 50%.
Looking forward to read your opinion about it.
$SNOW with a Bearish outlook following its earnings #Stocks The PEAD projected a Bearish outlook for $SNOW after a Positive Under reaction following its earnings release placing the stock in drift A.
Selling SNOW at trend of lower highs.Snowflake - 30d - We look to Sell at 179.69 (stop at 191.11)
Daily signals are bearish.
The primary trend remains bearish.
The trend of lower highs is located at 180.
We look for a temporary move higher.
Preferred trade is to sell into rallies.
Our profit targets will be 151.11 and 141.11
Resistance: 165.00 / 170.00 / 180.00
Support: 155.00 / 145.50 / 140.00
Disclaimer – Saxo Bank Group.
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SNOW Bullish for EarningIt reports earnings after the market close on Wednesday. Additionally, the overall market looks bearish we could see some downside and will be a great opportunity to play for earnings.
