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Possible Bearish Inside Day Candle Pattern Detected for Servicenow Inc (NYSE:NOW)

By Shiri Gupta

SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in Servicenow Inc (NYSE:NOW) based on the price action in the company's shares. Yesterday's price range of $187.68 and $189.46 is within the prior day's high and low of the day. This trading action often signifies indecision by bulls and bears to drive prices higher or lower and often implies a possible change in trend. Owners of Servicenow Inc may want to consider a possible hedge in the event a pullback occurs. Look for confirmation in the next few trading days.

In the past 52 weeks, Servicenow Inc share prices have been bracketed by a low of $137.60 and a high of $206.29 and closed yesterday at $187.94, 37% above that low price. The 200-day and 50-day moving averages have moved 0.24% higher and 0.16% higher over the past week, respectively.

ServiceNow, Inc. provides enterprise information technology (IT) management software. The Company designs, develops, and produces prepackaged computer software, cloud services, and IT service management platform. ServiceNow serves customers throughout the United States.

Based on a current price of $187.94, Servicenow Inc is currently 1.4% above its average consensus analyst price target of $185.34. Servicenow Inc shares have support at the 200-day moving average (MA) of $180.99 and additional support at the 50-day MA of $178.11.

SmarTrend recommended that subscribers consider buying shares of Servicenow Inc on December 28th, 2018 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $179.88. Since that recommendation, shares of Servicenow Inc have risen 6.2%. We continue to monitor NOW for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: bearish am inside day candle servicenow inc

Ticker(s): NOW