NOW closes within prior day's range


Servicenow Inc (NOW) Technical Analysis Report for Aug 10, 2018 [1 min read]
Highlights
NOW finds support at 20-day moving average
NOW runs into sellers again around 190.00
NOW closes within previous day's range
NOW ends the day indecisive
TQ Sentiment
Report Sentiment: 28% Bullish
Technical Forecast:
Overview

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 chart for NOW
Volatility

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.

Support/Resistance

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.

Trend

The trend is clearly bullish, showing an intact uptrend in the short, medium and long-term.

Order Flow

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.

Conclusion

While classical technical analysis indicates a neutral sentiment for the next trading day, our quantitative statistics show a different picture being bullish.

Market Conditions for Servicenow Inc
Condition Forecast Direction Win Avg Worst Best Events
Bearish Break through SMA 50 TQ Pro Members Only
Bearish Outside Bar TQ Pro Members Only
4 Consecutive Lower Closes TQ Pro Members Only
Close to S1 Support TQ Pro Members Only
Bounced off Technical Support S1 TQ Pro Members Only
More market conditions identified for TQ Pro members...
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Latest Report:

NOW breaks below 50-day moving average

Aug 15, 2018
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