5Q5 trade ideas
Snowflake (1D) - Time to sell the Divergence ? Hi Traders,
CHart says it all, Falling wedge pattern was followed by growth. RSI konvergence was very Reliable indicator. Now it shows we are near potential top or local top.
Enjoy the ride both ways. Always use stop-loss.
$SNOW Constructive Candle on FridayI have to saw $SNOW putting in an inside tight day right there at that level is extremely constructive.
Look at Friday's volume -75% from its 50 day MA.
That's extreme volume dry up
SNOW- Breakout - CUP with Handle- Follow through DaySNOW - Broke out the CUP with Handle pattern.
-- RH&S
-- MACD - Bullish
$SNOW Possible Head and Shoulders Continuation Base If the market doesn't go down the toilet from here, $SNOW is acting like a future leader in the next leg up.
Best case scenario it puts in the right shoulder of a small head and shoulders continuation base.
Keeping a close eye on it.
Snow breakoutSnow is making a cup and handle pattern, with the handle a nice strong bounce off of the 50 day moving average and completing a 3 white soldiers pattern to boot. It is starting to outperform the growth ETF that it is a part of and a break above 320-330 could signal a big breakout.
$SNOW - digesting levelI continue to love this stock. It is really digesting this level. Anything under $309, I will add.
Today looks like I will have the opportunity to add.
$SNOW - 330 calls > 325 | 320puts < 322$SNOW - consolidating and for lotto friday can try 330 calls > 325 | 320puts < 322 , also rememder today quad witching
Snowflake, Inc. $SNOW reaches pattern target, partial exitSnowflake is a cloud computing-based data warehousing company based in Montana, named after the founders' love for winter sports. I like winter sports, and the ticker SNOW is aesthetically appealing in my portfolio.
The trade setup was straightforward. The company IPO'd in 2020 at $220, and after one quarter that saw investors take price up above $400 per share, all post-IPO gains were given back by mid-2021, and price got down to as low as $180.
Between March - July 2021, $SNOW formed an inverted Head and Shoulders bottom, reflected by the blue curved drawings - a left shoulder, a "head", and a right shoulder. Once price broke above the pattern boundary, I reached a measured target of $320 by applying the width of the pattern (from $180 to $250, or $70) to the breakout level of $250.
$70 + $250 = $320
This measurement criteria is based on the works of John Magee and Robert D. Edwards in Technical Analysis of Stock Trends (5th edition, 1948).
My stop-loss, the "Last Day Rule", and my limit order placement is based on teachings from my friend and active trading legend Peter L. Brandt (Diary of A Professional Commodity Trader, @PeterLBrandt).
I've now covered 3/4 of this position for a gain of 28% (70/250).
My maximum risk, assuming my stop loss order filled peacefully at its activation price was only 4% (10/250).
The risk to reward setup at the time of entry was then (4%) to 28%, or 1 to 7.
Snowflake is probably in line for further price gains, but I have no reason to believe I have an edge at these levels.
$Snow$SNOW is in the sweet spot here in my opinion. Mid-cap growth and best of breed along with recent ipo. Big volume uptick heading into a summer weekend caught my attention. This one is a favorite of both wall-street and retail. CEO is mega brilliant.
Snow updateImo this is still an (ABC) wave structure just has a minor correction instead of a deeper retrace for live earnings conference and we ended probability for an impulsive 5 wave structure by a minor wave structure interesecting 4th wave correction with wave 1 impulsive in the the probability of a 5th wave , this is my probability of how things will play out further with an ending diagonal and then a push down. But in other news we did hit the green box from my other post so if you were the swing holder you are in profit congrats : ).
As always happy trading : )
Snow wave analysisSnow has taken a fall from a ending diagonal pattern and has fallen off into a Double three as you can see I have put the retracements and extension zones and included with arrows where I think it will be further into time I hope this helps with my analysis : )
As always happy trading : )
$SNOW - pick up on retest and rideBeen collecting this since I saw the green 3 strat candle on the monthly chart.
Adding on a test of $286.15
Ride to $330 and beyond.
I am in commons.
$SNOW - W pattern hourly$SNOW - W pattern hourly, looking good for gap fill & break above 288 target 290 & 300
SNOW UpdateIf snow can stay above and hold 275 - it can test 290, 300 next.
My first target is 290, if SNOW closes strong today and holds above at least 275-278.
$Snow sorry thought i posted this : look at the snapshot and look at the level from the long position graph that doesn't show up
the 263 was entry and 261 was the stop. and 274 was target, for some reason the little box didnt show up on the snap shot
Snowflake Breakout TradeNYSE:SNOW
Ascending Triangle
Slow Turtle Buy
Uptrend
FiFT +ve Bull Recharge
MCDX Banker Spike up
Banker 87%
Atom buy
SNOW on WATCHSNOW has been in this range for a while and the triangle is getting tigher. With Earnings coming up, that may be the catalyst to bring this over the edge.
