SNOW Technical Analysis - SNOWFLAKE INC

Technical Rating and Analysis

Taking everything into account, SNOW scores 10 out of 10 in our technical rating. 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.

Both the short term and long term trends are positive. This is a very positive sign.

Looking at the yearly performance, SNOW did better than 91% of all other stocks. We also observe that the gains produced by SNOW over the past year are nicely spread over this period.

SNOW is one of the better performing stocks in the IT Services industry, it outperforms 83% of 86 stocks in the same industry.

SNOW is currently trading near its 52 week high, which is a good sign. The S&P500 Index however is also trading near new highs, which makes the performance in line with the market.

In the last month SNOW has a been trading in the 214.30 - 245.76 range, which is quite wide. It is currently trading near the high of this range.

SNOW has an average volume of 5843890 traded shares per day. This is a good sign as it is always nice to have a liquid stock.

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Technical Analysis

Relative Strength

ChartMill Trend Indicator

Simple Moving Average

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Weekly and Daily overview Charts

Setup Rating and Analysis

Besides having an excellent technical rating, SNOW also presents a decent setup pattern. Prices have been consolidating lately. There is a support zone below the current price at 233.28, a Stop Loss order could be placed below this zone.

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ChartMill Technical Ratings

Pocket Pivots

Bull Flags

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Support and Resistance Analysis

148.80

244.96

4 important support areas can be observed.

A support zone ranging from 227.00 to 233.28. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
A support zone ranging from 220.47 to 222.33. This zone is formed by a combination of multiple trend lines and important moving averages in the weekly time frame.
A support zone ranging from 215.33 to 216.30. This zone is formed by a combination of multiple trend lines and important moving averages in the daily time frame.
Support @150.30 from a trend line in the weekly time frame.

We can see 2 important resistance areas.

Resistance @238.67 from a horizontal line in the weekly time frame.
Resistance @242.53 from a horizontal line in the daily time frame.

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Technical Indicator Signal Analysis

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	91.47	POSITIVE	SNOW has a high relative strength, it outperformed 91.47% 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)	57.53	NEUTRAL	The RSI value for SNOW is a neutral value.
Moving Average Convergence Divergence/MACD (12, 26, 9)	0.93	POSITIVE	The MACD value suggests SNOW has a positive trend, although the MACD value is declining.
Stochastics (14,3)	75	NEUTRAL	The Stochastics value for SNOW is a neutral value.
Average True Range in percent/ATR (20)	3.26	MEDIUM VOLATILITY	The ATR as a percentage value for SNOW suggests some volalility.
Average Directional Index/ADX (14)	25.39	POSITIVE	The high ADX value value for SNOW suggests a strong trend.