Snow stock price hit $149.50 before retreating, with algorithms triggering sell orders near that threshold. Technical analysts highlight that sustained closes above $150 could unlock a new bullish leg. Despite worries about a looming AI bubble bolstered by rising valuations, an MIT report highlighting low return on AI investments, and strong competition from Databricks and others; Snowflake stock will likely rise higher if the company keeps beating expectations and raising guidance. Hello I am the Cafe Trader.
Today we’re looking at Snowflake (SNOW).
Price has broken into the Top of Demand, pushing back buyers while bears are making a case for this to go lower.
From a shorter term perspective, bears are in control of this one, making the Red scenario the most likely to h Snow stock price declined to $144.10 as traders took profits from the recent rally, with sentiment still supported by the firm’s strong ARR growth numbers from prior quarterly reports.
