SNOW is up 30% in 2 weeks, but still down over 57% in the past 7 months. SNOW rose above its steep 4-month downtrend line this month (chart 1 and the zoom chart). The turning point for SNOW was its ability to hold its IPO price of 120. (long-term chart). TPA’s target is +50%, which is only the March-April highs.
- ETSY rose above its 7-month downtrend line this month. The recent rally also puts ETSY above its 4-month downtrend line. ETSY accomplished a double bottom in May and June, which signals a support level. The recent lows also line up with long-term support from 2020 (weekly chart).
SHOP rose above its steep 2021 downtrend line this month. SHOP is still down over 75% in 2022. SHOP also rose above its less steep 3-month downtrend line in June. SHOP is also at support from its 2019 breakout level.
