$SNOW, the ticker symbol for Snowflake Inc., is showing signs of strength in the market. Traders have noted significant activity, including 10,000 March $170 calls and 8,000 February $170 calls being added to open interest last week. The stock appears to be basing around $110, with some traders highlighting a gap up over the 10 and 21 moving averages. Despite some concerns about fundamentals, the weekly chart shows a defined risk, indicating a potential long setup from $112. The stock is also making an effort to move and hold over recent highs, and a chart was posted recently.