Blue Chip Daily Chart of the Week

Blue Chip Daily Chart of the Week:
Snowflake, SNOW
Close: 277.48
Stop level: 234.40
please see chart analysis below

  • Snowflake, SNOW, is one of our top technical ideas going into the week and is on this week’s Members Top 25 list.
  • SNOW is trading over 4 rising moving averages, indicating an uptrend on multiple time frames.
  • SNOW had a 57% drawdown off of the December highs, but has been trending higher since the May lows.
  • SNOW broke out last week to a 5-month high, reclaimed the 200-sma over the last two weeks and has been holding the rising 50-sma since mid-June.
  • SNOW has also made a series of higher lows since mid- June as well.
  • 250-260 is a near-term support range and 230-235 is key longer-term support.
  • SNOW first went onto our Members Only High Beta list on 6/20/21 at 249.40, and has been on our weekly lists 4 times since then.
  • SNOW is a higher beta growth stock and also reports earnings later this month, two factors to be aware of.

To see this week’s Top 25 stocks list, with our best ideas across all S&P 500 sectors, please join here:

Have a great week,

Larry Tentarelli
Disclaimer – Blue Chip Daily Trend Report












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