NOW closes within prior day's range
ServiceNow Inc. (NOW) Technical Analysis Report for Aug 10, 2018 | by Techniquant Editorial Team
NOW ended the week 3.64% higher at 187.47 after losing $0.87 (-0.46%) today on low volume. Closing within the prior day's range, prices failed to decisively move past the previous day's trading range. Ending the day with an indecisive close, neither buyers nor sellers were able to gain control during the session.
Daily Candlestick Chart (NOW as at Aug 10, 2018):
Friday's trading range was $4.55 (2.44%), that's slightly below last trading month's daily average range of $5.72. Things look different on a weekly scale, where volatility is way below the markets average with the monthly volatility being below average.
Prices are trading close to a key support level at 187.39. After having been unable to move above 190.63 in the prior session, Servicenow Inc ran into sellers again around the same price level today, failing to move higher than 190.00. After trading as low as 185.45 during the day, the market found support at the 20-day moving average at 185.89.
The trend is clearly bullish, showing an intact uptrend in the short, medium and long-term.
Buying might speed up should prices move above the close-by swing high at 190.63 where further buy stops could get triggered. Selling might accelerate should prices move below the nearby swing low at 182.36 where further sell stops could get activated. With prices trading close to this year's high at 194.81, upside momentum might speed up should the share be able to break out to new highs for the year.