Description
⋅ Snowflake Inc. (SNOW) having come off significant channel support, is now approaching meaningful resistance, able to absorb weekly selling pressures.
From here (SNOW) can fall back to channel support, eliciting losses of 20% over the following 1 - 2 months.
A weekly settlement above resistance would lead to a buy signal in (SNOW) where gains of 20% would be expected over the following 2 - 3 months.