Stock Analysis: Snowflake Inc (SNOW) – 148.80
Trade Details: Stock is trading at the lower trendline support levels which is a multiyear support zone and price is hitting support now and preparing for the bounce from lower levels towards the upper resistance level. Its EMA is around 175 level which will be the first target level and the price will rise further after so keep trailing your stoploss.
This trade is also perfect fits with the Risk-Reward ratio of more than 1:4.
ENTRY = 148.80
STOP = 140
TARGET = 175 / 194
Please Note: If it falls further then you can add some more stocks because stock was in a strong bearish and now turning its trend and currently at bottom and having a good fundamentals.
To get regular updates on stocks, please join our Discord community.
See Our Articles on stock Analysis
My best read on trading is this Book