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NYSE:SNOW
Currently, SNOW is in an upward channel but has experienced strong movement to the downside. It is now trading below the 200 SMA trendline.
It's important to note that SNOW is currently oversold, and an RSI divergence has occurred within this oversold area.
My indicator also reveals that shortly after an oversold RSI divergence occurred, the price...
SNOW looks like it is ready to run up into earnings and some of its conferences where they plan to announce plans for the future, NVDA will be a part of it. SNOW has shown some weakness the last 2-3 days, but the long term picture is still bullish unless NQ rolls over.
SNOW is bottoming out, making higher lows and higher highs. I think a reversal is confirmed, however, be cautious as we are heading into earnings. Also there's a gap to fill from the last earning drop, if after next earning we surpass our high for last earning drop that gap could be filled.
Hi guys! So always looking for opportunities in repeating patterns/ macro developments.
SNowflake (SNOW) particularly stuck out.
This analysis is conducted in the 1 day timeframe.
Since June 2022, SNOW has been in a Ascending Channel with consistent Higher low prints.
This shows a reoccuring pattern of everytime we've made our way to the bottom of the channel...
After crazy carnage on earnings, SNOW got out of the downtrend and now in short term uptrend.
For long I'd be paying attention to volume, you want to see increase in volume and strong buying pressure to make it to next resistance levels 164, 172 and 182.
Beware of earnings on 5/22. Could run until then and earnings are always a gamble.
NYSE:SNOW Looking good! There is overhead resistance which is convergence of vwap and 200 DMA around $169 to $171 area. 👀
If it can overcome that area, it can run to $180 to $183 area.
It's a BUY BUY BUY for SNOW. BUY now or wait for a pull back on the daily to BUY, but either way, SNOW is a GREAT BUY.
This is a 1 to 3 year play, going back up to the 405.00 price level and beyond.
NYSE:SNOW Snowflake is back above the trendline and trading around the Point of Control resistance area.
Oscillators are showing bullish divergence.
See Mar 27 post for price targets.
Snowflake reported its maiden results back in December 2020
Revenue $159.62M reported earnings $ -0.28M.
Revenue has grown exponentially since though earnings have been negative to date.
Results are due 22nd May 2024, estimated revenue $786.8M, estimated maiden positive earnings $0.174M.
Stock price currently stands at lower support level.
Hi traders,
The price has been in the range since July 2022.
The support has held strong but the resistance at 190 $ has proven to be a key level as well.
We expect the price to retest the support again which could be the entry for the long position. After that l think SNOW will move up again and will try to break the resistance.
Target for long; 190 $
Of the...
Yes, 48 R:R sounds crazy. How about a 54 R:R? even crazier.
Watch this video to understand how this is super possible over and over again in the markets.
Happy Trading :)
- TraderDaddyOG
As my grandma used to say, "we don't play in the snow, we just make it rain when the temperatures low"
Bullish mid-long term.
Bullish near-term IF it regains 164 in the coming days.
- If it breaks back above 164 by 3/14 then my initial target is 187 by 3/25/2024
- Regardless, it will be trading at 207 minimum by end of 2024. Point target by end of 2024 = 287 ...
This is super interesting and we could be near a great level to get in for a longer term hold.
Many confluences on this one so keep this one on the list!
Happy Trading :)
Snow looks like it's found a short term bottom, i'd be long shares here with a stop at 151.50. Below that i could see $140 in play. To the upside we could see $190. I don't believe this will be a quick rally and likely it will choppy, so i would avoid short term options.
If this lower trendline can hold, this is a great buy opportunity for SNOW. My fortune 500 employer has adopted snowflake and I've read their licensing agreements are more profitable and sustainable than competitors. I have opened a position at these levels.
Fundamentals have also been trending positively if you look at their revenue and EPS.
