SNOW-BEARISH SCENARIO
Yesterday, Snowflake, announced financial results for its fourth quarter and full year of fiscal 2023, ending January 31, 2023. Revenue for the quarter was $589.0 million, representing 53% year-over-year growth. Product revenue for the quarter was $555.3 million, representing 54% year-over-year growth. The remaining performance obligations were $3.7 billion, representing 38% year-over-year growth.
Due to a disappointing growth outlook, the downtrend is more likely to continue
Re-test of the $ 110 support level is expected.
Risk Disclosure: Trading Foreign Exchange (Forex) and Contracts of Difference (CFD's) carries a high level of risk. By registering and signing up, any client affirms their understanding of their own personal accountability for all transactions performed within their account and recognizes the risks associated with trading on such markets and on such sites. Furthermore, one understands that the company carries zero influence over transactions, markets, and trading signals, therefore, cannot be held liable nor guarantee any profits or losses.
Due to a disappointing growth outlook, the downtrend is more likely to continue
Re-test of the $ 110 support level is expected.
Risk Disclosure: Trading Foreign Exchange (Forex) and Contracts of Difference (CFD's) carries a high level of risk. By registering and signing up, any client affirms their understanding of their own personal accountability for all transactions performed within their account and recognizes the risks associated with trading on such markets and on such sites. Furthermore, one understands that the company carries zero influence over transactions, markets, and trading signals, therefore, cannot be held liable nor guarantee any profits or losses.
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