Quantcast
Why This Price Level Should Be On Watch For Snowflake (SNOW) Traders | The Mesh Report

Why This Price Level Should Be On Watch For Snowflake (SNOW) Traders

Christian Tharp, CMT January 24, 2023 Comments Off on Why This Price Level Should Be On Watch For Snowflake (SNOW) Traders

Snowflake (SNOW) is a cloud computing–based data cloud company based in Bozeman, Montana. It was founded in July 2012 and was publicly launched in October 2014 after two years in stealth mode. The firm offers a cloud-based data storage and analytics service, generally termed “data-as-a-service”.

Since then, the stock received a fair amount of hype as one of the next big tech stocks, until inflation and the market had other plans, at least as far as the stock price was concerned. After being priced nearly twice what it is now, the stock has finally found some solid footing and traders have descended on the stock, trading it as they would one of the other major tech names.

In today’s video, we are analyzing the stock as it is setting some well-defined price levels that trader hope it can break and make a move higher. As long as this market rally stays intact, a move to a previously held level is expected to take place with little standing in the stocks path.

As you can see below, the stock has been in a bit of a consolidation pattern even with the strength of the overall market at its back. However, after a brief dip, the stock has finally joined the party and is eyeing a move higher to its next resistance level. Make sure to check out the video to see just where those levels are, and be prepared for the next big move.

I started The Profit Machine to help others learn the art of trading stocks and options, and that is exactly what the service is designed to do. Regardless of your experience level, this service will help you develop your skills as a trader and push you to take your trading to the next level.

Learn to trade as I teach you the same system that I have used for years in order to drive consistent results in the stock market. The system you will learn is a system centered around the idea that you do not need some over complicated system in order to achieve the results you wish to see. Simplicity is the name of our game and I want to teach you all the ins and outs of it, but in order to learn this system in depth, you’ll need to join today.

Start building your trading system alongside thousands of traders and I. Make 2023 your best year yet. Looking forward to trading with you and until then…

Good Luck!

Christian Tharp, CMT



Comments are closed.