Snowflake stock forms first-ever Death Cross

Snowflake (NYSE: SNOW) has experienced fluctuations throughout 2024, resulting in a negative overall performance. Furthermore, technical indicators are now showing signs of pessimism towards SNOW stock.Adding to the woes of a nearly 20% year-to-date price decline, SNOW shares have formed a Death Cross, marking the first downward-sloping 200-day moving average in their history.SNOW stock Death Cross with a 200-day moving average. Source: Barchart A Death Cross in stocks happens when their short-term moving a ...