Looking at the 2W chart of ServiceNow 
NOW, I currently see what appears to be the late stage of a complex W-X-Y corrective structure.
From an Elliott Wave perspective, the correction looks mature, although I still believe price could briefly move deeper toward the ~$50 zone before a larger reversal fully confirms.
What really caught my attention, however, is the strong impulsive move from the $80 → $100 region.
To me, that is important.
Because impulsive reactions like this, especially after prolonged corrective structures, often become the first early signal that market character may slowly be changing.
At the same time, several indicators across higher timeframes are beginning to show large bullish divergences — particularly momentum-based indicators such as RSI and MACD.
Historically, these kinds of divergences often appear during late-stage corrective phases and near important long-term bottoms.
What makes this setup interesting is the combination of:
* a mature W-X-Y structure,
* improving momentum,
* bullish divergences,
* and the emergence of impulsive price behavior.
If this scenario continues developing constructively, I believeNOW could fully recover the broader decline and eventually build the structure needed for a new ATH cycle.
Long-term, I would not underestimate the possibility of a move toward the $300 region over the coming years. 📈
NOW, I currently see what appears to be the late stage of a complex W-X-Y corrective structure.From an Elliott Wave perspective, the correction looks mature, although I still believe price could briefly move deeper toward the ~$50 zone before a larger reversal fully confirms.
What really caught my attention, however, is the strong impulsive move from the $80 → $100 region.
To me, that is important.
Because impulsive reactions like this, especially after prolonged corrective structures, often become the first early signal that market character may slowly be changing.
At the same time, several indicators across higher timeframes are beginning to show large bullish divergences — particularly momentum-based indicators such as RSI and MACD.
Historically, these kinds of divergences often appear during late-stage corrective phases and near important long-term bottoms.
What makes this setup interesting is the combination of:
* a mature W-X-Y structure,
* improving momentum,
* bullish divergences,
* and the emergence of impulsive price behavior.
If this scenario continues developing constructively, I believe
NOW could fully recover the broader decline and eventually build the structure needed for a new ATH cycle.Long-term, I would not underestimate the possibility of a move toward the $300 region over the coming years. 📈
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Declinazione di responsabilità
Le informazioni e le pubblicazioni non sono intese come, e non costituiscono, consulenza o raccomandazioni finanziarie, di investimento, di trading o di altro tipo fornite o approvate da TradingView. Per ulteriori informazioni, consultare i Termini di utilizzo.