ServiceNow Inc. (NOW) Elliott Wave Forecast - Trading Lounge (Daily Chart)
ServiceNow Inc. (NOW) US Stock Daily Chart Forecast
ServiceNow Inc. (NOW) Elliott Wave Technical Analysis
- Function: Trend
- Mode: Motive
- Structure: Impulsive
- Position: Wave (v)
- Direction: Uptrend
- Details: Following the end of Wave (iv), ServiceNow (NOW) is expected to advance into Wave (v), potentially reaching a level equal to Wave (i).
Daily Chart Overview
ServiceNow Inc. (NYSE: NOW) is displaying continued strength on the daily chart as it progresses into Wave (v) of the Elliott Wave sequence. Wave (iv) appears to be in a corrective stage, with probable completion in the 38.2%–50% Fibonacci retracement range. Once this retracement finalizes, Wave (v) is projected to follow, potentially matching the scale of Wave (i). This setup creates a favorable scenario for bullish traders, highlighting short-term upside potential. The current impulsive wave formation reflects a continuation of the upward trend.
ServiceNow Inc. (NOW) – Elliott Wave Forecast (Weekly Chart)
ServiceNow Inc. (NOW) Technical Analysis – Trading Lounge
- Function: Trend
- Mode: Motive
- Structure: Impulsive
- Position: Wave {V}
- Direction: Uptrend
- Details: The bullish path toward Wave {V} remains intact after a rebound from the 50% Fibonacci retracement zone in April.
Weekly Chart Insight
On the weekly chart, ServiceNow (NOW) preserves its bullish Elliott Wave structure, aiming for the completion of Wave {V}. After Wave {IV} ended around April, near the 50% Fibonacci retracement, the stock gained momentum. This ongoing impulsive movement supports a positive long-term outlook. Traders should monitor key resistance levels and watch for consolidation signals as Wave {V} evolves.
Technical Analyst: Dhiren Pahuja
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