Opportunistic Buy Signal for Snowflake

25 days ago

Ed Carson

"And then data analytics firm Snowflake, S-N-O-W. That's an easy ticker to remember. Had a huge earnings move several weeks ago. Stock came down, tested the 21-day line. Looks like it's trying to break out of a little downtrend here. ... Maybe in a week and a half, we'll have a base that starts with this earnings gap up. But, you know, you can see, especially on a weekly, there's sort of a draw the line kind of situation where, where's the bulk of the base? It's clearly right around that level, just around, like, say, just above 230. It's like 232."

The discussion on Snowflake indicates that after a recent earnings move and a pullback to the 21-day line, the stock is showing signs of a breakout from a short-term downtrend. The analyst sees an opportunity if the stock can clear its short-term highs and establish a new base around the 232 level, suggesting a potential buying opportunity in the near term.

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