Watch These Snowflake Price Levels as Stock Pops After Strong Earnings | Global News Avenue

snowflake(Snow) released fourth-quarter results and annual product revenue outlook, which is expected to drive through Wall Street estimates, sending shares Cloud-based data storage Providers were sharply higher on Thursday.

The company guided revenue growth of 24% for fiscal 2026 to $4.28 billion, comfortably surpassing analyst expectations Top line From enterprise customers to Snowflake’s AI-powered cloud services to manage their data.

On Wednesday, the company announced it had expanded its partnership with Microsoft (MSFT)integrated Openai Direct access to its Cortex AI platform. Today’s jump comes ahead of the start of the former CEO of the company in February last year, Snowflake stock has lost nearly a third of its value in the past year and is constantly increasing competition on cloud services.

The stock rose 9%, with shares about $181 in early afternoon trading Thursday.

Next, we break down technology On the Snowflake chart and identify key tributes worth paying attention to after price levels.

Cup and handle pattern

Snowflake shared one Cup and handle pattern From February last year to this month, sales pressure was underway last week.

this Pull back Quarterly results of entering the company and Relative Strength Index (RSI) The drop to its lowest level since September last year paved the way for today’s painful rebound.

Let’s apply Technical Analysis To point out Snowflake’s charts to point out four important elevated areas, while also determining the key Support level Worth monitoring during the answers.

Important elevated areas

First, it’s worth monitoring how the price responds to the $190 level, which is where the stocks may face Resist Retest the cup and handle the top trend lines of the pattern.

Buying above this level could cause the stock to climb to around $212. Stocks may experience sales pressure in the area near January last year peak and the correction in late February was lower.

The next overhead cost of interest is $236. Investors who have purchased a prepayment club may look for Lock profits Near Twin Peaks in February 2024 gap Lower later that month.

To predict elevated areas viewed using measured actions, investors can apply Measurement principle. When applying this technique, we calculate the depth of the “cups” of the cup and handle and add it to the highest trend line of the pattern.

For example, we added $85 to $190 rise Target $275, the region is 65% higher than Wednesday’s closing price, and investors may seek Exit point In higher moves.

Key support levels for monitoring during response

Finally, during the response period, investors should track the $153 level. This position on the chart may attract significant buying interest near the low point of the cup and attract the “handle” of the handle pattern.

Comments, opinions and analysis expressed by Investopedia are for informational purposes only. Read ours Warranty and liability disclaimer For more information.

As of the date of writing this article, the author does not own any of the above securities.