Snowflake(SNOW) - Are We on the Verge of a Significant Breakout?
Snowflake Inc. 
SNOW - Are We on the Verge of a Significant Breakout?
Snowflake (SNOW) stock is approaching a critical level in the short term**, facing a possible breakout above the 126.99$ resistance level. Snowflake is a company that provides a cloud-based data platform for businesses, enabling large-scale data storage, management, and analysis.
📊 Key Analysis Points:
- Historical Resistance Level: 126.99$ - a critical level that has previously acted as resistance.
- Entry Opportunity: If we see a confirmed breakout above 126.99$ with strong trading volume.
- Stop-Loss: Setting a stop-loss below the breakout level, around 126$, to protect against a failed breakout.
- Initial Profit Target: 135.72$ - another historical resistance level that could serve as a short-term profit target.
- Additional Resistances: If the upward trend continues, consider 146.46$ and 168.80$ as possible profit targets.
🔍 Summary
The stock is at a key level, and a breakout above 126.99$ could signal further upward movement, as long as the conditions are met and trading volume supports the move. We’ll keep a close watch on price action and volume to see if the breakout holds.
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Disclaimer: This analysis is for educational purposes only and does not constitute investment advice. Please conduct independent research and manage your risks accordingly.
SNOW - Are We on the Verge of a Significant Breakout?Snowflake (SNOW) stock is approaching a critical level in the short term**, facing a possible breakout above the 126.99$ resistance level. Snowflake is a company that provides a cloud-based data platform for businesses, enabling large-scale data storage, management, and analysis.
📊 Key Analysis Points:
- Historical Resistance Level: 126.99$ - a critical level that has previously acted as resistance.
- Entry Opportunity: If we see a confirmed breakout above 126.99$ with strong trading volume.
- Stop-Loss: Setting a stop-loss below the breakout level, around 126$, to protect against a failed breakout.
- Initial Profit Target: 135.72$ - another historical resistance level that could serve as a short-term profit target.
- Additional Resistances: If the upward trend continues, consider 146.46$ and 168.80$ as possible profit targets.
🔍 Summary
The stock is at a key level, and a breakout above 126.99$ could signal further upward movement, as long as the conditions are met and trading volume supports the move. We’ll keep a close watch on price action and volume to see if the breakout holds.
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Disclaimer: This analysis is for educational purposes only and does not constitute investment advice. Please conduct independent research and manage your risks accordingly.
ملاحظة
We Have a Breakout
ملاحظة
أغلقت الصفقة: تم الوصول للهدف
إخلاء المسؤولية
لا يُقصد بالمعلومات والمنشورات أن تكون، أو تشكل، أي نصيحة مالية أو استثمارية أو تجارية أو أنواع أخرى من النصائح أو التوصيات المقدمة أو المعتمدة من TradingView. اقرأ المزيد في شروط الاستخدام.
إخلاء المسؤولية
لا يُقصد بالمعلومات والمنشورات أن تكون، أو تشكل، أي نصيحة مالية أو استثمارية أو تجارية أو أنواع أخرى من النصائح أو التوصيات المقدمة أو المعتمدة من TradingView. اقرأ المزيد في شروط الاستخدام.