Snowflake stock rises 1.2% after partnership expansion with Oracle for AI Data Cloud

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Snowflake stock rises 1.2% today

Highlights

Snowflake will offer its AI Data Cloud as a native, first-party service on Oracle Cloud Infrastructure.
Customers can buy the Snowflake AI Data Cloud using Oracle Universal Credits, expanding purchasing options on OCI.
Snowflake stock is up 1.2% at $338.94, with 178 of 206 analysts rating it a buy and a median price target of $443.5.

Snowflake is expanding its partnership with Oracle to make the Snowflake AI Data Cloud available through Oracle Cloud Infrastructure. PR Newswire reported that Snowflake AI Data Cloud will be offered as a first-party, native service on OCI. Customers will also have the ability to purchase and use the offering through Oracle Universal Credits, according to Investing.com.

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Bullish structure holds as price anchors to prior weekly high support

Snowflake stock is sitting right at support from the prior weekly high at $337.7, anchoring the current price action. The daily structure remains bullish as shares continue to hold above the MA-20, MA-50, and MA-200. This positioning follows a sharp move higher over the past week, yet it has not established a sustained trend.

Upside odds predominate as traders watch $337.7 support for confirmation

To assess whether the recent event is being reflected in the price, traders should focus on price action relative to the prior weekly high at $337.7. During the session, Snowflake stock reclaimed the MA-20 at $335.03 after previously losing it, suggesting active buying interest at short-term support. Still, from here, the upside probability for the coming trading week is 78%, while the downside probability is 22%, with an expected range between $325.3 and $352.57. A close above the recent range would confirm buyers are willing to drive prices higher, while a drop below $337.7 would indicate weakness is returning. On the weekly chart, the longer-term perspective remains firmly constructive.

Earlier, analysts noted that despite technical weakness, Snowflake’s longer-term setup remained constructive, with attention focused on responses to key support levels. The latest partnership expansion with Oracle and stronger price action above all major moving averages add a new dimension, making developments at the $337.7 support pivotal for gauging if the current uptrend will persist.

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