SNOWFLAKE INC-CLASS A (SNOW) Stock Technical Analysis
NYSE:SNOW - New York Stock Exchange, Inc. - US8334451098 - Common Stock - Currency: USD
We assign a technical rating of 10 out of 10 to SNOW. This is due to a consistent performance in both the short and longer term time frames. Also compared to the overall market, SNOW is showing a nice and steady performance.
Besides having an excellent technical rating, SNOW also presents a decent setup pattern. Prices have been consolidating lately and the volatility has been reduced. There is a resistance zone just above the current price starting at 209.63. Right above this resistance zone may be a good entry point. There is a support zone below the current price at 208.17, a Stop Loss order could be placed below this zone. Another positive sign is the recent Pocket Pivot signal.
- A Pocket Pivot is a price/volume accumulation pattern. A Pocket Pivot occurs when price moves up with volume higher than the maximum down volume registered in the previous 10 days.
More info and screens
137.20
2 important support areas can be observed.
- A support zone ranging from 204.98 to 208.17. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
- A support zone ranging from 138.59 to 138.82. This zone is formed by a combination of multiple trend lines in multiple time frames.
When analyzing the resistance we notice one important area.
- A resistance zone ranging from 209.63 to 211.29. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
The Technical Rating and Setup analysis above combine different indicators and trends in different timeframes. Individual signals from indicators may give more contradictive signals and should always be interpreted in the more global context.
| Indicator | Value | Signal | Comment |
|---|---|---|---|
| ChartMill Long Term Trend Indicator | UP | POSITIVE | The long term trend for SNOW is up. |
| ChartMill Short Term Trend Indicator | UP | POSITIVE | The short term trend for SNOW is up. |
| ChartMill Relative Strength | 94.24 | POSITIVE | SNOW has a high relative strength, it outperformed 94.24% off all stocks on the market. |
| Simple Moving Average/SMA (20) | UP | POSITIVE | The current price of SNOW is above the rising SMA(20). |
| Simple Moving Average/SMA (50) | UP | POSITIVE | The current price of SNOW is above the rising SMA(50). |
| Simple Moving Average/SMA (200) | UP | POSITIVE | The current price of SNOW is above the rising SMA(200). |
| Relative Strength Index/RSI (14) | 68.28 | NEUTRAL | The RSI value for SNOW is a neutral value. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | -1.45 | NEGATIVE | The MACD value suggests SNOW has a negative trend. |
| Stochastics (14,3) | 60.79 | NEUTRAL | The Stochastics value for SNOW is a neutral value. |
| Average True Range in percent/ATR (20) | 3.07 | MEDIUM VOLATILITY | The ATR as a percentage value for SNOW suggests some volalility. |
| Average Directional Index/ADX (14) | 40.92 | POSITIVE | The high ADX value value for SNOW suggests a strong trend. |
Important!: this is just an example which is fully automatically generated based on the analysis above and should in no way be interpreted as a suggestion. Always make your own analysis and determine your own entry and exit points.
| ENTRY | EXIT | DISTANCE | CAPITAL |
|---|---|---|---|
| 211.30 | 205.22 | 6.08 (2.88%) | 25.00% |
| An entry @211.30. This is a Buy Stop order right above the resistance zone. | An exit @205.22. This is a Stop Loss order right below the 10 day low. | The worst case loss on the trade is limited to 6.08 points, which is 2.88%. | For a 0.72% total portfolio risk, you can invest 25.00% of your capital in this trade. |
- The distance between exit and entry is rather small compared to the average daily movement of SNOW. Please evaluate whether better entry and exit points can be found.
- The generated setup is based on the nearest support and resistance areas. If you are looking for a more long term trade, probably a wider stop is advisable.
- This trade setup was generated fully automatically and should not be interpreted as trading advice. Always check the related news for upcoming earnings or other events. Make your own analysis and trade at your own responsibility.
209.45
+0.33 (+0.16%)