07Jul

Snowflake SNOW Elliott Wave Bullish Analysis: Daily Wave V & Weekly Wave III Forecasts Offer High‑Probability Trading Setup

Snowflake Inc. (SNOW) – Elliott Wave Analysis | Trading Lounge Daily Chart

Snowflake Inc. (SNOW) Daily Chart Analysis and Overview

Snowflake Inc. (SNOW) Elliott Wave Technical Analysis

Function: Trend

Mode: Impulsive

Structure: Impulsive

Position: Wave V

Direction: Uptrend toward Wave V

Details: A bullish impulsive wave is in progress, with Wave V expected to mirror the length of Wave I, signaling strong upward potential.

Daily Chart Summary:

Snowflake Inc. (NASDAQ: SNOW) is showing a continued bullish trend on the daily chart, suggesting further upside movement. The Elliott Wave count identifies the stock in Wave V, which is developing after Wave III extended earlier in the cycle. Based on this pattern, Wave V is likely to match the length of Wave I, indicating a potential bullish breakout. The price is approaching key resistance levels, and a confirmed breakout could solidify the trend continuation. This offers a promising setup for short-term traders seeking bullish exposure.

SNOW-us-stocks-D-Cha...


Snowflake Inc. (SNOW) – Elliott Wave Analysis | Weekly Chart

Technical Analysis Overview – Trading Lounge

Function: Trend

Mode: Impulsive

Structure: Impulsive

Position: Wave (III)

Direction: Uptrend toward Wave (III)

Details: Following a breakout from a triangle consolidation, Wave (I) has completed. Wave (III) is projected to begin once Wave (II) completes its corrective move.

Weekly Chart Summary:
On the weekly timeframe, Snowflake (SNOW) is advancing within a robust Elliott Wave impulsive sequence. The initial rally completed Wave (I) after breaking out from a consolidation triangle. The current pullback appears to be Wave (II), and once this corrective phase ends, Wave (III) is expected to trigger a strong upward movement. Wave (III) often represents the most dynamic part of an impulsive sequence, offering traders a high-probability entry point. Watch for minor consolidations and resistance zones as potential confirmation before the trend resumes higher.

Technical Analyst: Dhiren Pahuja

Visit: TradingLounge.com for detailed analysis and market updates.

Previous: Visa Inc. (V) Elliott Wave Technical Analysis

VALUE Offer - $1 for 2 Weeks then $29 a month!Click here

Access 7 Analysts Over 200 Markets Covered. Chat Room With Support

SNOW-us-stocks-W-Cha...

Related

Gain valuable insights into the current Forex market: British Pound/U.S. Dollar GBPUSD Elliott Wave Technical Analysis

Gain valuable insights into the current Forex market: British Pound/U.S. Dollar GBPUSD Elliott Wave Technical Analysis

This article provides an in-depth GBPUSD Elliott Wave Analysis, focusing on day and 4-hour charts. D...

Read More >
The Coca-Cola Company (KO) - Stocks Analysis, Elliott Wave Technical Forecast & Price Prediction

The Coca-Cola Company (KO) - Stocks Analysis, Elliott Wave Technical Forecast & Price Prediction

Dive into the dynamic world of Coca-Cola's (KO) stock with our expert analysis guided by Elliott...

Read More >
Pepsico Inc. (PEP) Elliott Wave Analysis: Unveiling Market Trends - February 13, 2024

Pepsico Inc. (PEP) Elliott Wave Analysis: Unveiling Market Trends - February 13, 2024

Explore the Elliott Wave Technical Analysis of Pepsico Inc. (PEP) on both daily and 4-hour charts as...

Read More >
SPDR Select Sector Fund ETF (XLE) Elliott Wave Technical Analysis: Energy Sector Rally Analysis, Price Targets, and US Market Update

SPDR Select Sector Fund ETF (XLE) Elliott Wave Technical Analysis: Energy Sector Rally Analysis, Price Targets, and US Market Update

The SPDR Energy Select Sector ETF (XLE) has completed wave (4) and is starting wave (5) of an impuls...

Read More >
Dr Reddy Laboratories Share Forecast and Elliott Wave Analysis Signals Bullish Trend, Buy Zones, and Key Price Levels for Traders

Dr Reddy Laboratories Share Forecast and Elliott Wave Analysis Signals Bullish Trend, Buy Zones, and Key Price Levels for Traders

This analysis provides a detailed Elliott Wave outlook for Dr Reddy Laboratories, indicating a bulli...

Read More >
VeChain (VET) Elliott Wave Analysis: Crypto Trading Strategy, Market Trends, Support & Resistance Levels for VET/USD

VeChain (VET) Elliott Wave Analysis: Crypto Trading Strategy, Market Trends, Support & Resistance Levels for VET/USD

VeChain (VET) Elliott Wave forecast, covering key price levels, trading strategies, and market trend...

Read More >

$1 for 2 Weeks

then $29 a month!

What a Special Offer!

Trade Recommendations

Unleash the power of deversified trading with our comprehensive portfolio, covering 250+ markets:

  • Stock Trades
  • Crypto Trades
  • Forex Trades
  • Commodity Trades
Elliott Wave Analysis

Gain a competitive edge with expert insights and AI-powered Elliott Wave charting into:

  • Global Indices
  • US Stocks & ASX Stocks
  • Forex & Crypto
  • Commodities
Top-Notch Trading Tools

Equip yourself with the tools of success:

  • Real-time Chat rooms
  • Elliott Wave Algorithm
  • Portfolio tools
  • TradingLevels
  • Screener
  • Trading Game
7 Elliott Wave Analysts

Stay ahead of the market with daily charts and insightful videos
Your secret to strategic trading!

JOIN HERE


Welcome to TradingLounge (ASIC A.R.No. 321187), specialists in trades, trading education and technical analysis, covering stocks, indices, commodities, forex and cryptocurrencies.

When you join TradingLounge you have access to everything we offer, including trade tools, educational content and a social platform to chat with like-minded investors.

Read more

@Copyright 2024 by tradinglounge.com

Contact Us

Australian no: 02 4787 6020

International no: +61 (2) 47876020

Pay with:

Find us on