Of all the trades I've ever taken, this is the one I am most looking forward to.
I'm giving Snowflake a modest upside target of $1100 quite possibly even by the end of this year. I'll update my wave analysis on how we get to that target as we begin to move along.
Here's the thing though: I refuse to buy it unless it gets down into my golden zone of 287. If it...
This stock is going up, so if you are value investor....buying here is no brainer.
more green daily candles is what I will look for before starting a position.
Either way, price is coiling and holding above SMA...supports upward move soon.
There is both double bottom and bull flag formation on this chart. If it pass 330 level then it is aim is to reach 383 immediately... (Probably it will hit 400 )
I am taking it at this level. Good luck.
We're at the POC of all time, looking for a breakout if we can push through that. I'd like to see some more strength of the indicators so might stall for a bit while here while it builds.
What Is a Short Squeeze?
A short squeeze occurs when a stock or other
asset jumps sharply higher, forcing traders who
had bet that its price would fall, to buy it in
order to forestall even greater losses. Their
scramble to buy only adds to the upward
pressure on the stock's price
KEY TAKEAWAYS
*A short squeeze accelerates a stock's price rise
as short-sellers...
$SNOW formed a smaller bullish wedge after broking out of the larger wedge that was shared in my previous idea. This sound continue pushing to the upside >$315 should lead to $325+
See my previous $SNOW analysis below:
SNOW has been in a falling pendant for weeks now, and I have continually expected it to break upwards. Now it finally seems to be making an upward move. It has held above a significant resistance/support range at 298-300 for several days, and it has bounced strongly off of that range on the hourly, intra-day chart.
Possible resistance/target price points ...
Great trading session on snow today. looking at the hourly chart we see that again, SNOW price rejecting that 298-300. the last time it touched this area the candlestick for that hour formed what appears to be a dragonfly doji. Great bullish sign for Snow to finally make a move. Additionally, The Golden Cross is beginning to come into play which is when the fast...
Snowflake has found support at 265 putting in a recent double bottom.
Current resistance would be 318, with support at 298.
Targets above 318 would be the golden mean reversal at 341, 360, 390, and eventually a retest of the all time highs at 428
We've broken the supply line with clear bullish divergence on the oscillators.
Volume has slowed to the downside...
Not too much action today on SNOW. further consolidation between the 310 area and 300. If price falls below 298 then this trade might be considered invalid. but so far its been rejecting that range between 298-300. We need to see an accumulation of high volume tomorrow to see that massive uptrend many of us have been waiting on. after breaking out of the...
SNOW could be getting ready for another move up...target is $462 (52%)...just breaking out of another descending wedge pattern...currently trading back above the 50 day moving averages...macd is preparing for a bullish crossover...and hidden bullish divergence in the oscillators (yellow circles)...IT'S YOUR MONEY, DYOR!!
![SNOW: $SNOW | Snowflake Inc: Bullish Falling Wedge Breakout [Update 4]](https://s3.tradingview.com/2/2dBuGxjO_mid.png "$SNOW | Snowflake Inc: Bullish Falling Wedge Breakout [Update 4]")
