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

By James Quinn

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. Today's price range of $341.00 and $347.96 is within yesterday'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.

Servicenow Inc (NYSE:NOW) is currently priced 46.3% above its average consensus analyst price target of $185.34. The stock should discover initial support at its 50-day moving average (MA) of $296.74 and subsequent support at its 200-day MA of $283.26.

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.

Servicenow Inc share prices have moved between a 52-week high of $362.95 and a 52-week low of $213.99 and are now trading 61% above that low price at $345.43 per share. The 200-day and 50-day moving averages have moved 0.15% higher and 0.97% lower over the past week, respectively.

SmarTrend is tracking the current trend status for Servicenow Inc and will alert subscribers who have NOW in their portfolio or watchlist when shares have changed trend direction.

Keywords: bearish inside day candle servicenow inc

Ticker(s): NOW