Today’s instrument is the Snowflake stock traded in NYSE under the ticker SNOW.
Looking at the SNOW’s 4H chart, we can see that yesterday it was slashed due to the announced quarterly earnings and future outlook, and it was lastly traded at around $147.90.
Today, if it holds its price above its support level which is at around $145, then we should see it rising towards its resistance level at around $155 and if it passes it then it could approach the next one at around $160.
However, if it fails to hold above its support level, then we should see it falling towards its next support level at around $140.
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