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- 1/8/2021 -
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ServiceNow (NOW)

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Summary:
Weekly :Overbought sectorStochastic signal line moved below overbought areaPrice is near the Fibonacci 38.2% retracement level
Daily :The price has fallen below the Parabolic SARLane's Stochastic is oversoldPrice is close to the 50 Day Moving AverageBullish Three Inside Up CandlestickThe price has declined below the moving average in the center of the Bollinger Bands
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It was the negative week for the ServiceNow (NOW). During the week, the NOW dropped -20.79 points, or -3.78%, and closed at 529.64 on Friday, January 8, 2021. It was the worst weekly loss since November 13, 2020. NOW was trading at average weekly trading volume.

NOW is a member of Information Technology Sector. Information Technology is the most overbought sector. Sector/industry rotation is considered a proven strategy to beat the market. Use the following links to find overbought/oversold technical indicators by Sector or by Industry.

Long-term trend: [See NOW long-term trend chart]
A long-term uptrend had started on March 18, 2020 at 238.93 and reached 566.67 on December 18, 2020. NOW gained -327.74 points, or -137.17%, in 39 weeks. The chart has formed a Rising Channel chart pattern. The trend support level is at 509.03 and resistance is at 578.13. A Rising Channel represents price movement contained between parallel lower (support) and upper (resistance) trend lines. Trading Channeling stocks is one of the most reliable and accurate trading techniques that provide traders with precise entry and exit points as well as stop-losses and take-profit recommendations. Use the following link to access a Rising Channel chart pattern help, or use a Technical Stock Screener to see the list of stocks with Rising Channel pattern in a long-term trend.

Medium-term trend: [See NOW medium-term trend chart]
A medium-term downtrend had started on December 18, 2020 at 566.67 and reached 507.06 on January 6, 2021. NOW lost 59.61 points, or 10.52%, in 2 weeks. Price is near the Fibonacci 38.2% retracement level. The Fibonacci retracement level is considered a support/resistance level.

Weekly Technical Indicators: [See NOW weekly technical indicators chart]
Weekly technical indicators are neutral. During the last week, weekly Lane's Stochastic signal line (%D) has moved below overbought area. Such crossover is considered a bearish signal. Oscillators are designed to signal a possible trend reversal. They can act as alerts and should be taken in conjunction with other technical analysis tools. Oscillators can be used to confirm other technical signals. Use the following link to access Lane's Stochastic help.

The weekly MACD line is below its signal line since October 23, 2020. This is an indication that the medium-term trend is down. The distance between MACD and the signal line is low, but getting bigger. It indicates that the current medium-term downtrend is getting stronger. Use the following link to access a MACD help.

Short-term trend: [See NOW short-term trend chart]
A short-term uptrend had started on January 6, 2021 at 507.06 and reached 531.61 on January 8, 2021. NOW gained -24.55 points, or -4.84%, in 2 days. The price is now at the 8.02% retracement level.

Daily Technical Indicators: [See NOW daily technical indicators chart]
Daily Lane's Stochastic is oversold. Use the Technical Stock Screener to see the list of stocks with daily oversold Lane's Stochastic.

The daily MACD line is below its signal line since December 24, 2020. The distance between MACD and the signal line is relatively high and getting bigger.

During the last week, the price has fallen below the Parabolic SAR (stop and reversal). A Parabolic SAR above the price is a bearish signal, and it indicates that momentum is likely to remain in the downward direction. A Parabolic SAR is used as a trailing stop loss for long or short positions. It works best during strong trending periods. Use the following links to access Parabolic SAR Help, or use the Technical Stock Screener to see the list of stocks with the Parabolic SAR close to the price level.

During the last week, the price has declined below the moving average in the center of the Bollinger Bands. The Bollinger Bands are often used with a non-oscillator indicator like chart patterns or a trendline. The signals are considered more reliable if these indicators confirm the recommendation of the Bollinger Bands. Use the following links to access the Bollinger Bands Help, or use the Technical Stock Screener to see the list of stocks with the price above the Upper Bollinger Band or below the Lower Bollinger Band.

Price is close to the 50 Day Moving Average. While daily technical indicators are oversold, the 50 Day Moving Average is considered a support level. The moving average crossover signals work better when the stock develops a strong trend, but they are ineffective when the stock is in a trading range. Moving average crossover systems can be effective, but should be used in conjunction with trend patterns, momentum indicators, candlesticks and other aspects of technical analysis. Use the following links to access Moving Average Crossover trading technique, or use the Technical Stock Screener to see the list of stocks with the Moving Average close to the price level.

Candlestick pattern: [See NOW candlestick chart pattern]
On Friday the chart has formed a Bullish Three Inside Up Candlestick pattern. The Bullish Three Inside Up pattern is another name for the Confirmed Bullish Harami pattern; it occurs in a downtrend , and it is an early signal that a bullish reversal is in play. The reliability of the Bullish Three Inside Up pattern is very high. Use the Technical Stock Screener to see the list of stocks that had a Bullish Three Inside Up Candlestick pattern during the last week.

Daily Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 41.58
Williams' Percentage Range (W%R) 75.50
Lane's Stochastic (%D-Slow) 16.95
Oversold
Greed/Fear Indicator (GFI) 27.66
Moving Average Converg./Diverg. (MACD) 3.71
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 58.27
Williams' Percentage Range (W%R) 33.50
Lane's Stochastic (%D-Slow) 78.63
Greed/Fear Indicator (GFI) 65.38
Moving Average Converg./Diverg. (MACD) 42.11
Trading Signals
Description Value Chart
Yearly Trendline Resistance 578.13
Upper Bollinger Band 563.92
Parabolic System 559.49
Weekly Stochastic Crossing 549.34
20 Day Moving Average 540.54
Price 529.64
50 Day Moving Average 524.74
Daily Stochastic Crossing 516.18
Yearly Trendline Support 509.03
Lower Bollinger Band 504.45
Sector and Industry
Description Name Rank
Sector Information Technology 9
Industry Systems Software 54
Daily Trend
Description Value
Direction Up
Chart Pattern Uptrend
Low 507.06
Low Date 01/06/2021
High 531.61
High Date 01/08/2021
Weekly Trend
Monthly Trend
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 507.06
Low Date 01/06/2021
High 531.61
High Date 01/08/2021
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 507.06
Low Date 01/06/2021
High 531.61
High Date 01/08/2021
Quarterly Trend
Yearly Trend
Description Value
Direction Down
Chart Pattern DownTrend
Status
Resistance
Support
High 566.67
High Date 12/18/2020
Low 507.06
Low Date 01/06/2021
Description Value
Direction Up
Chart Pattern Rising Channel
Status Valid
Resistance 578.13
Support 509.03
Low 238.93
Low Date 03/18/2020
High 566.67
High Date 12/18/2020
Warning: TheGreedyTrader.com presents weekly analysis. Technical indicators and trend parameters are calculated for the close of business day indicated on the top right corner of the screen.

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