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SNOW 322 Retracement Target: 300, 280 and 250

SNOW had an H&S topping pattern, the rapid post earning gains have all given back. Normally, one would expect a bounce, which could be to 350. But the 300 mil plus shares that become free tradable are very likely hit the market with plenty of supply, as holders waited until the new year to avoid the capital gain of 2020.

Assuming 20% of the shares would come to the market, that would be 60 mil shares plus?

The following are IPO price info and freed lock up share info, a stunning value ascending based on traders' hungry appetite.

"The expiry of the lockup could weigh on share price accretion from here, as early holders sell and SNOW's free float rises from 32.2 million to 345.8 million shares in March 2021," Colville said.

In September Snowflake kicked off trading at $245 a share, more than double its already lifted initial public offering price of $120, solidifying it as the largest software-focused IPO ever.

Snowflake originally set a midpoint range of $80 a share, but raised it to a midpoint of $105."

thestreet.com/investing/snowflake-shares-melt-ahead-of-lockup-expiration

Technically SNOW has been in chop if we overlook the one-week stunning run of more than $200 on a $250 stock; and that 250 would be likely the base by Spring.