Technical Levels To Watch As $SNOW Reports Earnings
Software technology company SNOW (Snowflake) reports Earnings after today's close (along with AVGO). At SNOW's multi-year high of 341.95 on Aug 12th, the stock had gained 189% from its Apr 10th low of 118.30 (4 months!), and, as of this writing in pre-market, SNOW was circling 311, still up 163% from that April pivot low.
In other words, purely based on the magnitude of the vertical 4-month assault, we should not rule out a "sell-the-news" reaction to Earnings regardless of how strong they appear, and regardless of very promising forward guidance. Should such a scenario unfold, my deepest negative reaction target window that preserves the bullish structure of the April-August 2026 advance is 275-285, or -8% to -11% from current levels, from where my pattern work expects renewed buying that initiates another upleg projected to 355-365.
A break and close below 275 will inflict "structural damage" to the April-August 2026 advance, and will neutralize my directional technical outlook in SNOW.
Any better price behavior in reaction to Earnings that preserves 275 keeps my pattern setup constructive and bullish for another upleg to 355-365.
SNOW was and still is one of my Baker's Dozen Best Technical Setups Entering 2026. I first posted about the pattern setup on 12/31/25 when SNOW was trading at 220.11.
