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

By David Diaz

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 $336.00 and $351.00 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.

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.

In the past 52 weeks, shares of Servicenow Inc have traded between a low of $213.99 and a high of $362.95 and closed yesterday at $339.51, which is 59% above that low price. Over the past week, the 200-day moving average (MA) has gone up 0.2% while the 50-day MA has declined 1.1%.

Servicenow Inc (NYSE:NOW) is currently priced 45.4% above its average consensus analyst price target of $185.34. The stock should find initial support at its 50-day moving average (MA) of $296.47 and further support at its 200-day MA of $283.45.

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 am inside day candle servicenow inc

Ticker(s): NOW