Struggling Tech Stock To Avoid This Month
SNOWSnowflake(SNOW) Forbes·2024-05-09 02:54

Snowflake (SNOW) has had some trouble breaking over the $160 level for the past couple months. The stock is trading well below its February bear gap and is down 20.5% since the start of the year. If past is precedent, the cloud stock is about to encounter more technical trouble. SNOW is now one standard deviation from its 50-day moving average. For the purpose of this study, Schaeffer's Senior Quantitative Analyst Rocky White defines that as the equity trading below the moving average for 80% of the time ov ...