Snowflake (SNOW)

Readers will see that SNOW experienced a mini-double top reversal in February, leaving an unfilled gap in its wake that would require a print of $233 or higher to fill. Out of that came a downward sloping price channel that had tested breaking out of its moving range going into earnings only to see a sharp rejection in response to the numbers. This morning, the stock has already given back its 50-day SMA forcing some portfolio managers to reduce long-side exposure and its 21-day EMA, which got the swing crowd out. RSI is now much weaker and the daily MACD, which was headed towards bullishness, will take a turn for the worse. Should the downward moving range hold true as it has for six months now, this stock, which is clearly unloved at this point, could juat as easily trade at $100 before it trades at $130.