Snowflake (SNOW) Update
Snowflake Activates Our Fibonacci Retracement Zone
As anticipated in our previous analysis on Snowflake dated 3 February 2026, the market has now reached our defined Fibonacci retracement zone.This area represents a prime buying and accumulation opportunity for the stock. Within this zone, we expect Snowflake to regain bullish momentum and complete its corrective move with the termination of the dark blue Wave 2.
Today, Snowflake touched the 61.8% retracement level at $161.05, triggering a first buying opportunity. However, we anticipate a potential deeper retracement within the zone, with possible downside extensions toward the 78.6% level at $143.12 or even the 88.7% level at $132.34.
If this zone holds and Snowflake successfully reclaims the local resistance at $188, the retracement will be validated and our primary scenario will remain intact. Should the zone fail to hold, our secondary scenario will come into effect.
It is important to keep our previous long-term analysis on Snowflake in mind in order to stay aligned with the broader market outlook (https://icreatures.de/snowflake-snow-ew-analysis/). Regardless of which scenario unfolds, from a dollar-cost averaging (DCA) perspective, this Fibonacci retracement zone offers an excellent opportunity to accumulate the stock at discounted price levels.
Should any structural changes occur, we will provide updates immediately.
Kind regards,
Monalytics
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