Will the earnings provide the boost this stock needs?

Snowflake is still rangebound between $155-$165 after falling off a cliff in the last earnings quarter. Closed yesterday’s session at around $164.78 a share, down 15% YTD. We can see that the long-term support, which dates back to June of 2022, has been upheld following the sell-off. This provides a strong base for the bulls in hopes of a rally higher following the earnings. The price of the stock has now moved back above its 50-day moving average, and it looks like the next key resistance point is the 200MA. The 200MA currently reads $171.94, a break and close above it could build the momentum for a potential push toward $180 to close the November gap. Daily support at $161.13 followed by support along the 50MA of $157.10. A break and close below the 50MA may lead to a decline back towards the trendline support. Looking at the technical indicators, the MACD is positive and rising and so is the RSI as it reads 56. This suggests that the momentum is there with a set-up for a move higher, the earnings could provide the boost this stock has been waiting for. Although, it’s not guaranteed.