Setup Overview
ServiceNow has been in a long-term downtrend but recently broke above that trend line on August 27th. After pulling back to retest the breakout area, the stock now appears to be forming the handle portion of a potential cup-with-handle pattern.
Technical Strengths
• Price is well above the 50-day SMA.
• Price is above the 21-day EMA and has generally respected that level since late July.
• The stock remains above the 200-day SMA, although that average is still sloping downward.
Trade Plan
I am already long this name and would consider adding to my position if price can break above the downward-sloping handle line.
Risk Reminder
As always, if you like this idea, make it your own and apply your trading or investing rules. After all, it is your money at risk.
ServiceNow has been in a long-term downtrend but recently broke above that trend line on August 27th. After pulling back to retest the breakout area, the stock now appears to be forming the handle portion of a potential cup-with-handle pattern.
Technical Strengths
• Price is well above the 50-day SMA.
• Price is above the 21-day EMA and has generally respected that level since late July.
• The stock remains above the 200-day SMA, although that average is still sloping downward.
Trade Plan
I am already long this name and would consider adding to my position if price can break above the downward-sloping handle line.
Risk Reminder
As always, if you like this idea, make it your own and apply your trading or investing rules. After all, it is your money at risk.
Ideas I publish are my own. They are not meant to be investment / trading advice. You are encouraged to do your own due diligence.
I am under no obligation to post any action or update to any idea.
Follow me on "X" where I post more content.
I am under no obligation to post any action or update to any idea.
Follow me on "X" where I post more content.
Publicações relacionadas
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As informações e publicações não se destinam a ser, e não constituem, conselhos ou recomendações financeiras, de investimento, comerciais ou de outro tipo fornecidos ou endossados pela TradingView. Leia mais nos Termos de Uso.
Ideas I publish are my own. They are not meant to be investment / trading advice. You are encouraged to do your own due diligence.
I am under no obligation to post any action or update to any idea.
Follow me on "X" where I post more content.
I am under no obligation to post any action or update to any idea.
Follow me on "X" where I post more content.
Publicações relacionadas
Aviso legal
As informações e publicações não se destinam a ser, e não constituem, conselhos ou recomendações financeiras, de investimento, comerciais ou de outro tipo fornecidos ou endossados pela TradingView. Leia mais nos Termos de Uso.