I have been watching snow since it’s been recovering from the sell off it had about a month ago.
Anyway, I have been trading a lot of intraday bounces and my prediction of QCOM yesterday was similar to this.
Nothing fancy just a bounce play that was confirmed with the level 2 data.
I always look through the order book to get an idea of who is buying and...
We can see how an inversed shoulder-head-shoulder is being created. If confirmed the price could go as up as aprox 290$. RSI does not show any interesting view, but we can see a down trend right there in the last few days; in this line, MA (9) is falling,but I consider is just momentum. Moreover, $SNOW is reaching to its floor, so it could activate buy alerts; in...
$SNOW showing signs of life after a downtrend
* BUY signal fired on Ultimate Stock Indicator
* Ripster EMA cloud turned green
* Looking for volume for entry.
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SNOW has been beaten down below IPO price and has completed a descending trend, looking to break out. A daily 8EMA to 21EMA crossover should indicate A bullish move towards some upside. Even if this move is just a corrective wave with more downside, the trend will push this to the .618 and decide what to do from there. Looking to add longs if it moves over 242.67...
Description 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.
Now 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...
Classic bullish divergence on the daily. This is probably kind of late to publish the idea. The perfect entry was around 230. However, it still has run to go. I bought a few shares, and already sold half of the position to book profits and will let this run. This is a technical, but also a fundamental play, and I love to hold stocks like this on my long term portfolio.