Snowflake on Wednesday reported first-quarter earnings that topped Wall Street expectations, but the company's product revenue outlook missed views amid slowing growth for cloud computing partners. The revenue climbed 48% to $623.6 million, the software maker said. Analysts had predicted revenue of $609.7 million. SNOW stock plunged 12.5% to near 155 in extended trading on the stock market today. The next price target is located at the $ 140 major support level
Risk Disclosure: Trading Foreign Exchange (Forex) and Contracts of Difference (CFD's) carries a high level of risk. By registering and signing up, any client affirms their understanding of their own personal accountability for all transactions performed within their account and recognizes the risks associated with trading on such markets and on such sites. Furthermore, one understands that the company carries zero influence over transactions, markets, and trading signals, therefore, cannot be held liable nor guarantee any profits or losses.
Tis the season of the triangle, and in this triangle, I see hit number five will overthrow to the downside, and then exit strongly to the upside. Puts now but calls during the overthrow.
ScubaSteve-EWT
⋅
@ScubaSteve-EWT went back and redrew the triangle. Looks like you're right, in that this is the overthrow now to the upside, and a deeper exit to the bottom is coming up next.