Earnings 8-24.
SNOW is in a channel up right now and ES (Entry short) would be a break of that bottom trendline. This channel up, which may be a bit heavy one for a bear flag, formed after a significant move to the downside. Go with your gut.
Trendlines narrowed and formed a Falling Wedge which is bullish if price breaks over the top trendline.
The larger trendlines appears to be broadening.
To me, if I had to choose, this looks like a short versus a long with possible bobbling of price inside the channel before breaking down from that channel.
No recommendation.
The 100 and 200 DMAs are sloping down. The 20 and the 50 are gently sloping up.
SNOW is in a channel up right now and ES (Entry short) would be a break of that bottom trendline. This channel up, which may be a bit heavy one for a bear flag, formed after a significant move to the downside. Go with your gut.
Trendlines narrowed and formed a Falling Wedge which is bullish if price breaks over the top trendline.
The larger trendlines appears to be broadening.
To me, if I had to choose, this looks like a short versus a long with possible bobbling of price inside the channel before breaking down from that channel.
No recommendation.
The 100 and 200 DMAs are sloping down. The 20 and the 50 are gently sloping up.
Comment:
8/24 Earnings well received/EPS of -$0.70 misses by $0.12, revenue of $497.25M beats by $29.94M.