Snowflake Inc.Short
Top 5 Weekly Trade Ideas #5 - SNOW Short
Updated
I had been watching SNOW for a long but it failed to hold up and is now in the big earnings gap where there's not much structure. I think the ideal short entry would be on a retest of $161 targeting $145.
I wouldn't be interested in puts above $161 but I think it has good potential to move down to $145 and then fill the gap from November.
I wouldn't be interested in puts above $161 but I think it has good potential to move down to $145 and then fill the gap from November.
Trade active
Short entry triggered here on the retest of the $161 area. Lots of names are coming into resistance during this little rally. VX is breaking down again as well, but still leaning bearish for now until we see more stocks reclaim prior support.
You reap what you sow.
Disclaimer:
The ideas I post do not always represent my positions and they are intended for educational purposes. Trading is risky! Most traders lose money.
Disclaimer:
The ideas I post do not always represent my positions and they are intended for educational purposes. Trading is risky! Most traders lose money.
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