Snowflake's shares surprised with company figures in November. A significant upward gap initiated a new rally. YTD, the stock is still down – 6%, but we see potential here!
Our main scenario envisages a direct approach to the falling trend channel at around USD 195, followed by a brief consolidation and a further advance towards USD 230.
If the stock falls back below USD 168, a gap close (at around USD 135) is a possibility. Below USD 130, there is a risk of significant losses.
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