SNOW Bull Flag
SNOW has a nice looking bull flag here, but MSFT is still down after after hours. MSFT did have a bounce after the initial big drop when earnings were first released, but it's still putting a lot of pressure on SNOW for now. So it seems kind of hard for SNOW to break out while that's happening, but we'll see where things are when the bell rings tomorrow morning.
SNOW has been very weak and it may gap down tomorrow off of MSFT earnings and if that's the case, I'd be looking for rallies to short. Best short opportunities would be if it gapped down and retested $129 or $133. For upside targets, I'd be looking to take profit on calls at the trendline above if it goes that way.
SNOW has been very weak and it may gap down tomorrow off of MSFT earnings and if that's the case, I'd be looking for rallies to short. Best short opportunities would be if it gapped down and retested $129 or $133. For upside targets, I'd be looking to take profit on calls at the trendline above if it goes that way.
Short Thesis:
advancedplays.com/short-thesis.pdf
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!
advancedplays.com/short-thesis.pdf
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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