Snowflake: Please turn!
Snowflake has experienced a setback in recent days. However, as it was able to hold above the support line at $107.41, our primary scenario remains intact. Thus, we continue to see the price in the turquoise-colored wave b, which should initially bring a (corrective) increase. Only after the high has been established should larger sell-offs come knocking, completing the wave (2) correction in green. However, we consider it 33% likely that the share has already been working on the final stage of this corrective movement since May. This scenario, which will be activated by a fall below the support level of $107.41, would call off the upward swing accordingly.
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