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.
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NYSE:SNOW Snowflake is checking back to the multi-year trendline from which it has bounced previously. This could potentially be an attractive entry point.
If it fails to bounce from the trendline area, a drop to the $140 area is possible.
Upside Targets:
$171
$184
$195
Risk:
$140
snow stuck between trend resistance and trend support at the moment.
We will continue to be stuck until we see a clear breakout past one.
if we break above my targets are 378.63-405, considering all the bullish flow.. this is most likely going to be the outcome in 2022.
but a break below will send us to 287.98-273.3
If you are long its smart to use trend...
NYSE:SNOW was one of a very good acting stocks from the low of November 23, at around $145, it increased to $236 on Feb 28, 24. A nearly 60% run.
Its key moving averages (MA50/150/200) had been acting very well.
On Feb 29, 24, NYSE:SNOW broke down hard violating its MA-50 on huge volume, after earnings.
The big gap down of -18% made it looks like a bargain....
Hello TradingView Family / Fellow Traders. This is Richard, also known as theSignalyst.
📈 SNOW has been overall bullish , trading within the rising channel in red.
Currently, SNOW is in a correction phase and approaching the lower bound of the channel.
Moreover, it is retesting a strong support in green at $140.
🏹 Thus, the highlighted blue circle is a strong...
SNOW is approaching my price target and there has been a slight rebound. I think there could be more dips into the light blue trendline over the next few days within the next 1-2 weeks. I would look to close out the options puts trade here and would look for a buying opportunity. The price targets on the way up are $178 and $229.
I think the continued fall into the gap below is too obvious. I can see NYSE:SNOW recovering next week into $160, and perhaps overextend a bit above $160, but later failing and filling the gap below the red dotted line. Once this is complete, perhaps NYSE:SNOW is ready for a long recovery until year-end. See the triangle by zooming out! I think NYSE:SNOW ...
SNOW has been playing out very well, I thought there would be some bounces along the way, but it has been a lot of downside with little bounces. I'm patiently waiting for $149-150. I wouldn't be surprised to see a move down to the yellow trendline at $142.20 either, we'll track and see how SNOW is doing over the next few weeks.
Technical trend showing that SNOW already at demand area.
Would be great potential to push the price upward for short term area (203-206).
Demand zone now indicates many buyer willing to pay at current price area.
SNOW beat the earnings estimates by 150% and slightly exceeded revenue estimates. Price
dropped in printing a bear flag in a 22% move yesterday at the close. Buying from the bottom
has begun and I have the idea that I should join. My pre-earnings play was closed going into the
earnings in the high liquidity that proceeds it. I got my ask price on that...
SNOW has been running since about the 1st of February. It beat earnings in November by 50%.
Right now it is situated at the mean-anchored VWAP where institutions pick up and drop off
shares the most. Price is at the lower boundary of an ascending parallel channel and is now
about 8% less than the double top of last week at the top of the channel. Price at the...
Options Puts Trade
This is an options puts trade setup above $229.26 resistance. SNOW has already reached the first price target, I can see SNOW dropping down to around $152 - $153 over the next few weeks.
SNOW Declines by 20%+ After Q4 Earnings
Snowflake Inc. (NYSE:SNOW) concluded its fiscal year 2023 on a high note, surpassing earnings expectations with a...
