I think the continued fall into the gap below is too obvious. I can see
SNOW
recovering next week into $160, and perhaps overextend a bit above $160, but later failing and filling the gap below the red dotted line. Once this is complete, perhaps
SNOW
is ready for a long recovery until year-end. See the triangle by zooming out! I think
SNOW
will move along this large yellow triangle for the next 12 months or so. Perhaps failing again and retesting the gap below and then by 2025 I see a better chance of recovery. Let's see how this plays out. Trade safe. I like call spreads into April 12 or April 19 at 165-160 strikes, and perhaps a small short term hedge for next week in case the wedge pattern continues to the downside breaking the red dotted line.
SNOW
recovering next week into $160, and perhaps overextend a bit above $160, but later failing and filling the gap below the red dotted line. Once this is complete, perhaps
SNOW
is ready for a long recovery until year-end. See the triangle by zooming out! I think
SNOW
will move along this large yellow triangle for the next 12 months or so. Perhaps failing again and retesting the gap below and then by 2025 I see a better chance of recovery. Let's see how this plays out. Trade safe. I like call spreads into April 12 or April 19 at 165-160 strikes, and perhaps a small short term hedge for next week in case the wedge pattern continues to the downside breaking the red dotted line.