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...
Snowflake Inc. ( NYSE:SNOW ) finds itself at a crossroads as it navigates through a significant leadership transition and grapples with market volatility triggered by a weaker-than-expected sales outlook. The cloud software company's shares plunged 19% following the announcement of CEO Frank Slootman's retirement and the appointment of Sridhar Ramaswamy, former...
Snowflake Inc. ( NYSE:SNOW ), a leading cloud data analytics company, faced a significant setback as it forecasted first-quarter product revenue below Wall Street estimates. This unexpected announcement, coupled with the anticipation of reduced spending from customers amidst economic uncertainty, led to a sharp decline of over 24% in its share price during...
Snow is resting against big resistance on weekly and monthly time frames going into earnings. I see it as a riskier bet to the long side here. Support is around the $200 level. Good Luck!
If you haven`t bought the dip on SNOW:
Then analyzing the options chain and the chart patterns of SNOW Snowflake prior to the earnings report this week,
I would consider purchasing the 230usd strike price Calls with
an expiration date of 2024-5-17,
for a premium of approximately $22.10.
If these options prove to be profitable prior to the earnings release, I...
NYSE:SNOW is completing a long-term bottom formation that is only visible on a weekly chart. The company was highly touted at IPO but has struggled since then.
Candlestick patterns indicate pro traders in the mix right now. The stock reports earnings Feb 28th, next week. Candlestick patterns and Pro trader influence imply a possible good report this time around.
