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Weaker technical forecast for Snowflake as stock downgraded to Hold/Accumulate
(Updated on Feb 11, 2025)

Buy or Hold candidate since Jan 21, 2025 Gain 5.77%

The Snowflake stock price fell by -1.38% on the last day (Tuesday, 11th Feb 2025) from $186.12 to $183.55. During the last trading day the stock fluctuated 2.27% from a day low at $182.17 to a day high of $186.31. The price has fallen in 6 of the last 10 days and is down by -2.38% for this period. Volume fell on the last day along with the stock, which is actually a good sign as volume should follow the stock. On the last day, the trading volume fell by -1 million shares and in total, 3 million shares were bought and sold for approximately $546.18 million.

The stock lies in the middle of a wide and strong rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the stock is expected to rise 21.61% during the next 3 months and, with a 90% probability hold a price between $192.52 and $233.44 at the end of this 3-month period.

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SNOW Signals & Forecast

The Snowflake stock holds a sell signal from the short-term Moving Average; at the same time, however, there is a buy signal from the long-term average. Since the short-term average is above the long-term average there is a general buy signal in the stock giving a positive forecast for the stock. On further gains, the stock will meet resistance from the short-term Moving Average at approximately $185.86. On a fall, the stock will find some support from the long-term average at approximately $171.14. A break-up through the short-term average will send a buy signal, whereas a breakdown through the long-term average will send a sell signal. Some negative signals were issued as well, and these may have some influence on the near short-term development. A sell signal was issued from a pivot top point on Tuesday, February 04, 2025, and so far it has fallen -2.94%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Volume fell together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements.

Support, Risk & Stop-loss for Snowflake stock

On the downside, the stock finds support just below today's level from accumulated volume at $171.61 and $171.35. There is a natural risk involved when a stock is testing a support level, since if this is broken, the stock then may fall to the next support level. In this case, Snowflake finds support just below today's level at $171.61. If this is broken, then the next support from accumulated volume will be at $171.35 and $167.43.

This stock has average movements during the day and with good trading volume, the risk is considered to be medium. During the last day, the stock moved $4.14 between high and low, or 2.27%. For the last week, the stock has had daily average volatility of 2.81%.

Our recommended stop-loss: $174.85 (-4.74%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 5 days ago.)

Trading Expectations (SNOW) For The Upcoming Trading Day Of Wednesday 12th

For the upcoming trading day on Wednesday, 12th we expect Snowflake Inc. to open at $184.01, and during the day (based on 14 day Average True Range), to move between $177.13 and $189.97, which gives a possible trading interval of +/-$6.42 (+/-3.50%) up or down from last closing price. If Snowflake Inc. takes out the full calculated possible swing range there will be an estimated 7.00% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at $186.55 (1.63%) than the support at $171.61 (6.51%), our systems don't find the trading risk/reward intra-day attractive and any bets should be held until the stock is closer to the support level.

Is Snowflake Inc. stock A Buy?

Snowflake holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Hold/Accumulate candidate.

Current score: 0.438 Hold/Accumulate Downgraded

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Predicted Fair Opening Price

Predicted fair opening price on February 12, 2025 - $184.01 ( 0.251%).

SNOW Performance

Trading levels for SNOW

Fibonacci Support & Resistance Levels

Level Price
R3 188.15 2.51%
R2 186.57 1.64%
R1 185.59 1.11%
Price 183.55
S1 182.43 -0.611%
S2 181.45 -1.14%
S3 179.87 -2.00%

Accumulated Volume Support & Resistance Levels

Level Price
R3 189.11 3.03%
R2 188.02 2.44%
R1 186.55 1.63%
Price 183.55
S1 171.61 -6.51%
S2 171.35 -6.65%
S3 167.43 -8.78%

FAQ

What is the symbol for Snowflake Stock and on which exchange is it traded?
The symbol for Snowflake is SNOW and it is traded on the NYSE (New York Stock Exchange).

Should I buy or sell Snowflake Stock?
Snowflake holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Hold/Accumulate candidate.

How to buy Snowflake Stock?
Snowflake Stock can be purchased through just about any brokerage firm, including online brokerage services.
Click here for our free guide on how to buy Snowflake Stock.

What's the current price of Snowflake Stock?
As of the end of day on the Feb 11, 2025, the price of an Snowflake (SNOW) share was $183.55.

What is the 52-week high and low for Snowflake Stock?
The 52-week high for Snowflake Stock is $237.72 and the 52-week low is $107.18.

What is the market capitalization of Snowflake Stock?
As of the Feb 11, 2025, the market capitalization of Snowflake is 61.438B.

When is the next earnings date for Snowflake?
The upcoming earnings date for Snowflake is Feb 26, 2025.
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ABOUT SNOWFLAKE INC.
Snowflake
Snowflake Inc. provides a cloud-based data platform in the United States and internationally. The company's platform offers Data Cloud, which enables customers to consolidate data into a single source of truth to drive meaningful business insights, build data-driven applications, and share data. Its platform is used by various organizations of sizes in a range of industries. The company was formerly known as Snowflake Computing, Inc. and changed ...
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