Snowflake Inc. (SNOW) stock price recorded slight gains in its latest intraday trading, as the stock attempts to recover part of its previous losses. At the same time, it is trying to ease some of its evident oversold conditions on the Stochastic indicator, especially with the emergence of a positive crossover. This comes amid the dominance of a short-term corrective bearish trend, with price moving alongside a trendline supporting this path, while negative pressure persists as the stock trades below its 50-day SMA, limiting the chances of a near-term recovery.

Therefore we expect the stock price to decline during its upcoming trading sessions, as long as it remains below the resistance level at $156.00, targeting the support level at $135.40.

Todays price forecast: Bearish