adminSnowflake Levels to Watch as Stock Pops After Strong Earnings
1 hour ago
Snowflake (SNOW) shares soared in premarket trading Thursday after the data analytics software maker reported better-than-expected earnings and boosted its revenue outlook.
Between September and October, Snowflake shares carved out a double bottom, a classic chart pattern that indicates a bullish reversal. More recently, bulls successfully defended a retest of the pattern’s neckline ahead of earnings, setting the stage for further gains.
Investors should watch key overhead price levels on Snowflake's chart around $145, $165, $182, and $200, while monitoring an important support area near $125.
After closing at around $129 yesterday, the stock was up 25% at $161 about an hour before Thursday's opening bell.
Read the full technical analysis piece here.
–Timothy Smith
Major Index Stock Futures Move Higher
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Futures tied to the Dow Jones Industrial Average were up 0.4%.
S&P 500 futures were also up 0.4%.
Nasdaq 100 futures were up 0.2%.
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