Snowflake is not a stock I would trade because I see it more of a long term investment. however, I just wanted to do a technical on the stock just for fun. its getting ready to break out of the ascending triangle. before market closed yesterday there was a decent amount of volume which raised the price from 245 to 251. lets see where it goes from here.
Take alook as I am new to this :)
It's a young stock so I tried to map out the past using the 1Hr timeframe.
It seems like we are approaching a breakout and I've setup the closest resistance and support lines.
heyy guys,so SNOW seems to be in a consolidation pattern ,with support around the 230 zone and resistance around 255,it still seems to be digesting the listing gains ,once it breaks above 260 and holds it should rally ,lot of analysts have started reporting on the stock there median estimates are around 250 and high around 500 ,after this consolidation ends expect...
I was watching $SNOW from the sideline since its IPO in mid September.
Unfortunately from a technical point of view, it's difficult to make any speculation on where and when the stock will move next. However, I believe the stock is in a bullish position. Looking at the chart, I could possibly speculate on the following points:
1. Ascending triangle narrowing and...
Yes, the legendary value investor who likes to buy boring business like Coca Cola and P&G are now moving to the fast spaced cloud technology and even Snowflake IPO
Perhaps, he is aware times have changed and he needs to be more tech-centric towards selecting his stocks.
Well, beside for a quick punt, I am very unlikely or motivated to dabble in IPO stocks as...
there seems to be a strong support around 235-240 zone ,the stock tested this support on multiple occasions and bounced back,if it breaks this support it might go towards 210 level,
snow seems to be forming cup and handle pattern with major resistance around 260-265 $ zone,if it breaks out with good volume stock should go higher from there,early in today's session it tried to break out but was rejected
lemme know what you guys think or if im missing something
so the hottest IPO for the year(arguably) debuted during a nasdaq selloff at a price around 260$,the price declined for the next few sessions reaching a low of 208 where there was good support for the stock, having bounced back sharply its almost at the debut level and shows a lot of strength ,the stock has been closing around the days high
price with good...
Because lack of data, Im not sure if the triangle is going to be bullish or bearish. but whenever the triangle chart pattern breaks we will witness a big move on the chart.
2 Extreme Types of Traders
So let’s talk about “What Type of trader are you?”
This is a follow up to my previous article, “The Traders Journey.”
So here’s what I’m seeing. There are 2 extreme types of traders.
The Type of Trader Who Wants to Know Everything
1.) This type of trader can’t get enough information. They’re like a ‘knowledge vacuum’!
This type...
Pennants are short-term continuation patterns that mark a small consolidation before the previous move resumes. These patterns are usually preceded by a sharp advance or decline with heavy volume, and mark a midpoint of the move.
COMPANY: SNOW FLAKE
SYMBOL: SNOW
PATTERN: PENNANT
