SNOW Holds $221.9 Support, Next Resistance $226
$Snowflake(SNOW)$
SNOW Tests Key Support at $221.9: Consolidation Before Next Move
Latest Close Data
Closed at $221.93 on Dec 25, down -1.41%. The price is approximately 21% below its 52-week high of $280.67.
Core Market Drivers
A negative net capital outflow of $841.44K over the past five sessions indicates persistent selling pressure.
The lack of significant immediate news leaves the stock vulnerable to broader tech sentiment and its own technical levels.
Technical Analysis
Volume was below average (Volume Ratio: 0.75), suggesting limited conviction in the move.
The MACD histogram turned positive to 1.05, signaling potential short-term momentum building.
RSI(6) at 43.8 remains neutral, showing no clear overbought or oversold condition.
Key Price Levels
Primary Support: $221.9 (USD). A decisive break below could accelerate selling.
Immediate Pivot/Resistance: $222.1 (USD). The immediate hurdle to overcome for a rebound.
Strong Resistance: Near the $226-$230 zone, aligning with recent highs.
Valuation Perspective
Forward P/E stands at 185.88, below its historical average of 248.58, suggesting some compression.
However, a P/S of 17.31 remains elevated, pricing in significant future growth expectations.
Analyst Targets
Sentiment is strongly bullish. 46 analysts have an average price target of $283.30 (+27.6% upside), with 43 recommending Buy or Strong Buy versus 7 Hold and 1 Underperform.
Weekly Outlook
Expect consolidation between $219.5 (today's low) and $226. A sustained break above $222.1 could target $230. A failure to hold $221.9 support may see a retest towards $215.
Risk Disclaimer
This analysis is for informational purposes only and not financial advice. Investing involves risks, including the potential loss of principal. Past performance does not guarantee future results. Conduct your own research before making any investment decisions.
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