Snowflake Inc.Long
$SNOW Breakout on the Horizon
Snowflake (A.I. data storage) SNOW, has been trading in VERY tight range for over a month that is much smaller than its normal expected move, which is insane.
1. If it’s at a major support, than its breakout is to the upside (which I’m inclined to believe)
2. If there some crazy news about AI data storage, than it could break below the support.
I am more inclined to believe it’s the former. The point of control on the volume profile is $155-160/share, so that’s where it is likely heading if it breaks out upward.SNOW
SNOW, has been trading in VERY tight range for over a month that is much smaller than its normal expected move, which is insane.1. If it’s at a major support, than its breakout is to the upside (which I’m inclined to believe)
2. If there some crazy news about AI data storage, than it could break below the support.
I am more inclined to believe it’s the former. The point of control on the volume profile is $155-160/share, so that’s where it is likely heading if it breaks out upward.
SNOW 
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.