There is a multi year resistance around $205 for NYSE:SNOW
Signs I'm looking for:
Top of channel to become support, a bounce off there and a move into $220 should confirm that.
I want to see the SuperTrend indicator stay green, upwards of the level of where the red downtrend line exists.
SuperTrends on higher time frame charts work the best. It's often pretty solid when used on individual stocks rather than an index.
Take a look at the supertrend (strategy) and mess around with different time frames. You'll see the cumulative return is very high, often much higher than just buying and holding the equity.
Let me know what you think : )
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it's more a triangle than a channel. Sorry for missing that distinction : )
I have to say these allegations of securities fraud concerns me. I have little tolerance for companies that aren't 100% transparent in their operations. A good CEO would've seen this as a liability, very disappointing.
Keeps trying to break out but can’t, got downgraded. I have a much tighter stop than this.
DontSlamTheDoor
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@Solaire-chartmeister, Yeah you're right the stop doesn't correlate well with the trade, I own the stock so I think a little differently. For a trade you're right I'd have my stop around $178 - $180. Any lower than that and I think it'll fall.