Snowflake Surges 23% on AI Guidance; Oracle and Cloudflare Also Gain

The news headline indicates that Snowflake's AI guidance has created a positive atmosphere across the sector, with Oracle also benefiting from this uptrend. On the technical indicators, the RSI at 66 is approaching overbought territory but is not yet overbought, while the MACD is above its signal line, signaling positive momentum. The price is trading above the SMA20 and SMA50, indicating a short-term upward trend. However, the limited 0.93% gain on the latest close suggests that the strength of the rally is not fully confirmed. Therefore, an upward movement can be expected in the short term, but the confidence level should be maintained at a moderate level.

SNOW has recorded a strong 23% gain, driven by AI guidance, which could create positive momentum in the short term. Despite an RSI of 78 indicating overbought conditions, the MACD remains above its signal line and the price is trading above both the SMA20 and SMA50, suggesting a robust trend. However, after such a rapid rise, there is a risk of profit-taking or consolidation in the near term. Although the news flow is positive, caution is advised for the continuation of the upward move due to overbought conditions. The 370-380 range can be monitored as initial support levels; if the price sustains above this zone, the rally could continue.

The news headline indicates that Snowflake has posted a strong gain, driven by its AI guidance, and this positive sentiment has spilled over to cloud companies such as Oracle and Cloudflare. This sector-wide optimism could provide short-term support for NET stock. However, the stock has fallen 6.8% over the last 24 hours, and technical indicators (RSI at 41, negative MACD) suggest weak momentum. Therefore, any upside expectations should be tempered, as the current technical picture may limit the positive impact of the news. The price trading below the 20-day and 50-day moving averages could also hinder a short-term recovery.