Snowflake Inc. SNOW Stock Analysis

Snowflake Inc. stock trades under the ticker SNOW & has recently shown technical strength, making it an interesting candidate for a short-term trade.

SNOW stock had a bullish MACD crossover yesterday, while going up 6.63% to close at $300.71.

Snowflake Inc. SNOW Stock Technical Performance For The Last Year

SNOW Stock Price: $300.71

10 Day Moving-Average: $281.66

50 Day Moving-Average: $308.90

200 Day Moving-Average: N/A

RSI: 54

Yesterday’s volume for SNOW was the third highest level since 2021 began, with the upper wick crossing the 50 Day Moving-Average.

SNOW stock does not have a 200 Day Moving-Average yet, as it is still relatively new.

Snowflake looks to have built some positive momentum, making it a prime candidate for a short-term trade.

Looking at SNOW options, the $307.50 calls & puts look the most appealing from a long perspective as a means of having some insurance against any near-term pullback.

From a selling perspective, selling the $330 calls that expire 2/5 seems like a safe opportunity, with decent open interest (322), and selling the $285 put for the same expiration also offers a decent premium, with about half of the open interest (162).

Overall, Snowflake Inc. stock looks to have a lot of opportunities in the near-term for traders to capitalize on.


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