SNOWFLAKE INC (SNOW) Stock Technical Analysis
USA - New York Stock Exchange - NYSE:SNOW - US8334451098 - Common Stock
Overall SNOW gets a technical rating of 2 out of 10. Although SNOW is scoring some points because its good overall performance in the market in the past year, recent evolutions are not that positive. Both the medium and short term picture give negative signs.
Although the technical rating is bad, SNOW does present a nice setup opportunity. We see reduced volatility while prices have been consolidating in the most recent period. There is a resistance zone just above the current price starting at 223.89. Right above this resistance zone may be a good entry point. There is a support zone below the current price at 221.16, a Stop Loss order could be placed below this zone.
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156.78
2 important support areas can be observed.
- A support zone ranging from 212.56 to 221.16. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
- Support @158.36 from a trend line in the weekly time frame.
When analyzing the resistance we notice 2 important areas.
- A resistance zone ranging from 223.89 to 229.40. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
- Resistance @255.75 from a trend line in the daily time frame.
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 | NEUTRAL | NEUTRAL | The long term trend for SNOW is neutral. |
| ChartMill Short Term Trend Indicator | DOWN | NEGATIVE | The short term trend for SNOW is down. |
| ChartMill Relative Strength | 83.9 | POSITIVE | SNOW has a high relative strength, it outperformed 83.9% off all stocks on the market. |
| Simple Moving Average/SMA (20) | DOWN | NEGATIVE | The current price of SNOW is below a declining SMA(20). |
| Simple Moving Average/SMA (50) | DOWN | NEGATIVE | The current price of SNOW is below a declining 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) | 43 | NEUTRAL | The RSI value for SNOW is a neutral value. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | 0.8 | POSITIVE | The MACD value suggests SNOW has a positive trend. |
| Stochastics (14,3) | 49.13 | NEUTRAL | The Stochastics value for SNOW is a neutral value. |
| Average True Range in percent/ATR (20) | 3.8 | MEDIUM VOLATILITY | The ATR as a percentage value for SNOW suggests some volalility. |
| Average Directional Index/ADX (14) | 27.25 | POSITIVE | The high ADX value value for SNOW suggests a strong trend. |
223.88
+1.95 (+0.88%)
SNOWFLAKE INC / SNOW FAQ
What is the ChartMill technical rating of SNOWFLAKE INC (SNOW) stock?
ChartMill assigns a technical rating of 2 / 10 to SNOW.
What is the current trend direction of SNOWFLAKE INC (SNOW) stock?
The current trend direction for SNOWFLAKE INC (SNOW) is Bearish.
What is the RSI signal for SNOW stock?
SNOWFLAKE INC (SNOW) has an RSI value of 42.9985. This indicates that the stock is currently neutral.
What is the MACD signal for SNOWFLAKE INC (SNOW) stock?
The MACD indicator for SNOWFLAKE INC (SNOW) has a value of 0.798488, indicating a bearish trend.
What is the short term momentum for SNOWFLAKE INC (SNOW) stock?
The short term momentum for SNOWFLAKE INC (SNOW) is negative.