What triggered Snowflake latest price pullback

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Snowflake slides 8.18% today

Highlights

Snowflake's Cortex AI platform reached a $100 million revenue run rate ahead of schedule, with AI contributing roughly half of quarterly bookings.
The developer ecosystem expanded as Snowflake extended the Cortex Code CLI for use with dbt and Apache Airflow, supporting integration and workflow automation.
Technically, SNOW trades at $158.40, sharply below major moving averages, with strong bearish momentum and a critical support level near $149; further declines are likely.

AI-driven bookings and strategic acquisitions fuel sector optimism

Snowflake continues to grow its AI offerings, with Cortex AI reaching a $100 million revenue run rate ahead of schedule and AI now accounting for about half of all bookings in the latest quarter. The company has also extended the Cortex Code CLI for use with dbt and Apache Airflow, strengthening its developer ecosystem. Additionally, Telemark Asset Management LLC acquired 40,000 shares valued at approximately $9 million during the third quarter.

Anton Kharitonov, expert at Traders Union, views Snowflake’s current setup as structurally weak. He notes that all major moving averages are trending above price, reflecting sustained selling pressure across timeframes. Institutional activity appears insufficient to offset negative sentiment, while news of AI-driven growth fails to uplift underlying demand. Momentum and oscillators confirm a clear bearish regime with no technical divergence. In his words: "The persistent lack of support and absence of strong buyers means further downside remains the default scenario for SNOW."

Viktoras Karapetjanc, expert at Traders Union, sees Snowflake’s AI segment rapidly advancing, outpacing revenue targets and expanding its ecosystem. He highlights institutional interest from Telemark Asset Management as a sign of longer-term confidence. Karapetjanc maintains that the company’s strong innovation pipeline and a growing share of AI-driven bookings offer renewed opportunities. He believes that any technical weakness should be viewed in context of continued growth potential. He states, "With AI momentum building and new strategic partnerships, I expect the bullish structure to reassert itself over time."

Jainam Mehta, market strategist, notes that Snowflake’s volatile session and decisive breakdown below major moving averages set a defensive tone. He observes that the price is now consolidating near intraday lows, but sees potential for tactical trades if volatility persists within the projected $148.88 to $170.25 range. Mehta points out that a reversal would require a close above $170 for bullish momentum to return. He concludes, "I am watching for possible contrarian entry signals if market sentiment becomes excessively one-sided near support."

Bearish momentum confirmed as all technical signals align lower

Momentum signals are strongly bearish, with the MACD showing a strong sell and ADX confirming clear seller dominance. RSI and CCI both signal weak underlying demand, while Stoch RSI and BBP highlight recent oversold and bearish intraday conditions. Today SNOW opened lower with a gap down from the previous close, and the price now sits near the bottom of its intraday range after a volatile session, losing 8.18%. Intraday tone remains pressured, and the awesome oscillator aligns with this downward momentum. There is no divergence among the main oscillators and momentum signals, confirming the prevailing selling impulse both intraday and on the daily chart.

Last time, analysts noted that Snowflake Inc. remained under significant selling pressure, with its share price trading firmly below all key moving averages and momentum indicators such as MACD and ADX confirming a bearish trend. Oscillators including RSI, Stochastic RSI, and CCI reflected a mixed but generally negative outlook, with resistance identified at the Ichimoku Kijun and limited short-term support, highlighting continued downside risk.

Source of Data: SNOW Price Analysis by TU

The analysis is based on a proprietary model combining technical, on-chain, and expert data. Not investment advice. See methodology

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