Buy NOW Soon?

by | Apr 4, 2024

Tech and anything AI-related have been hot for a while now.

But recently, we’ve seen tech cool off.

After a big run, two things happen.

One, there’s a huge crash.

Or, two, a stock stalls in a sideways channel, gathering up energy for a resumption of the bullish run.

ServiceNow (NOW) might be one of those stocks gearing up for another explosion.

Here’s the chart:

If NOW breaks above $815.32 soon, we could see another large move.

We’ll keep an eye on it.

Happy trading,

— Scott Welsh

P.S. As a reminder, these plays are based on my longer-term Weinstein Stage Analysis method. The chart above uses weekly candles and a 30 week simple moving average. For details on this method, see my explanation on this Ask The Pros episode starting at timestamp 20:45.

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