Snowflake Inc.Short
Pull back to $150-155s before earnings Q1 FY 2025
Updated
- Lot of work required to break long term downtrend and continue the move up in 200+
- Medium term target before earnings around 150-155
- Solid earning will push the stock price to retest 175-185 range and potentially allow stock to trade above 200s.
- Bad earning will moveSNOW to test the lower end of the trendline i.e low 100s and potentially double digits ~$85-98 /share. Databricks IPO would keep the stock price under pressure.
- Therefore, I believe next earnings will be crucial and will be essential to decide the direction long term.
- Medium term target before earnings around 150-155
- Solid earning will push the stock price to retest 175-185 range and potentially allow stock to trade above 200s.
- Bad earning will move
SNOW to test the lower end of the trendline i.e low 100s and potentially double digits ~$85-98 /share. Databricks IPO would keep the stock price under pressure. - Therefore, I believe next earnings will be crucial and will be essential to decide the direction long term.
Trade active
SNOW has reached my target range as I mentioned 150-155
closely, monitoring the price action and seeing if it fills the gap or not. If it fills the gap then I will add it for longs before the next earning report.
Trade closed: target reached
closing position; monitoring for price action and deciding if it is time to add SNOW in increments
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