Snowflake

Million

Resistance

<ul class="list-ic vertical"> 
 <li> <span>1</span> <a>SNOW stock price is currently trading at $158.63 with a drop of 0.69% in the last 24 hours and a market cap of $52.38 Million.</a> </li> 
 <li> <span>2</span> <a>SNOW stock price decreased by 4.57% over the past seven days.</a> </li> 
</ul> 
<p>The SNOW stock chart shows signs of weakness, losing the gains it made below the key moving averages. Snowflake stock briefly broke out above the upper trendline, but the move was short-lived as the bears took over. The buyers failed to maintain the momentum and started exiting their positions, resulting in a decline in the stock price.</p> 
<p>SNOW stock has been in a downtrend for the past number of months, forming lower highs and lower lows patterns, and facing resistance from the upper trendline, which prevented it from breaking out of the trend. The price action indicates that SNOW stock has been under selling pressure, and the buyers have been passive. On the other hand, the sellers have a strong advantage and continue to make short positions.</p> 
<p>At press time, Snowflake stock was trading at $158.63 with an intraday minor loss of 0.69%, breaking below the 200-day EMA, showing bearishness on the charts. Moreover, the intraday trading volume is 3.342 Million less than the average 10-day volume of 4.31 Million. The market cap of Snowflake stock is $52.38 Billion.</p> 
<p>Over the span of a week, Snowflake stock price dropped approximately 4.57%, however, this movement was positive in the course of a month, reaching around 6.42%. Looking back over a three-month period, SNOW shares have dropped by about 7.33%, while it gave a positive result of 13.88% over the last six months. Furthermore, the stock has been volatile so far into the year, with a year-to-date hike of approximately 8.29%.</p> 
<h2 class="wp-block-heading" id="strong-technical-analysis-of-snow-stock-price-in-1-d-timeframe-strong"><strong>Technical Analysis of SNOW Stock Price in 1-D Timeframe</strong></h2> 
<div class="wp-block-image"> 
 <figure class="aligncenter"> 
  <img decoding="async" src="https://lh5.googleusercontent.com/Ishda4Em-IzMwHfumkgOBAtz7AOEcQjgw8AXjJHoMJtBI-aKvrt7eLiNG2E3aq2MXxOuRUB3CGKEZ0Y_fmMtrIJuoVwaNnM9lg0PwAhibeQzSxZT7-HEELy1IhoDAd30WUoOAJJD8eaj-a_auZb0hNI" alt="SNOW Stock Prediction: Will Snowflake Stock Rebound in 2023?"> 
  <figcaption class="wp-element-caption">
    Source: SNOW.1D.NYSE by <a href="https://www.tradingview.com/x/1y9qr6Eu/" rel="noopener noreferrer nofollow">TradingView</a> 
  </figcaption> 
 </figure> 
</div> 
<p>SNOW stock is currently trading below the 50-day and 200-day SMAs, which are not favoring the price trend. However, if selling pressure increases, the price could break below these SMAs and move lower.</p> 
<p>The RSI indicator is currently at 47.24, which is in the neutral zone. However, the 14-day SMA is above the RSI, which is a bearish signal.</p> 
<p>The MACD is also neutral, with the MACD line trading close to the zero line heading downwards. This indicates that the SNOW stock is likely to continue to fall in the near future.</p> 
<p>Overall, the technical indicators suggest that the SNOW <a href="https://www.thecoinrepublic.com/2023/08/28/snow-stock-price-prediction-price-targets-for-snowflake-in-2023/" rel="noopener noreferrer nofollow">stock </a>price is bearish in the short term. However, if it can maintain the $150 level, it could continue to rise in the long term.</p> 
<h4 class="wp-block-heading"><strong>Summary</strong></h4> 
<p>SNOW technical oscillators also support the bearish trend. The MACD, RSI, and EMAs are emphasizing negative signs and imply that the downtrend may continue in the Snowflake stock price. SNOW price action suggests that the investors and traders are bearish on the 1-D time frame. The price action reflects a bearish perspective at the moment.</p> 
<h4 class="wp-block-heading"><strong>Technical Levels</strong></h4> 
<ul> 
 <li><strong>Support Levels</strong>: $140.26 and $123.68.</li> 
 <li><strong>Resistance Levels: </strong>$175.57 and $194.30.</li> 
</ul> 
<h5 class="wp-block-heading"><strong>Disclaimer</strong></h5> 
<p>This article is for informational purposes only and does not provide any financial, investment, or other advice. The author or any people mentioned in this article are not responsible for any financial loss that may occur from investing in or trading. Please do your own research before making any financial decisions.</p>

SNOW Stock Prediction: Will Snowflake Stock Rebound in 2023?

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