Snowflake initiates breakout as momentum turns bullish: time to accumulate?
Snowflake(SNOW) Invezz·2024-01-24 20:06
Snowflake Inc. (NYSE:SNOW) was at the centre of buyer interest on Wednesday as the stock rose by over 3%. A technical analysis shows the stock had initiated a breakout at $195. With no notable stock market news responsible for the gains on the day, we investigate this stock further.Snowflake is a beaten-down stock, trading at just $205, less than half its record $427 in December 2020. The stock is also a shell of its November 2021 high of $404. However, Snowflake has been impressive in the last year, gainin ...