ServiceNow shares technical analysis: $129.51 support under pressure

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ServiceNow slides 5% to $134.2 today

Highlights

NOW/USD trades below key short- and medium-term moving averages, showing persistent short-term selling pressure with long-term support intact.
Momentum indicators are mixed but oscillators are deeply oversold, indicating a potential for a near-term technical bounce.
Expected 2 to 3 day price range is $129.51 to $138.89, with a 68% probability of a further downward move.

Oversold signals spark bounce risk despite persistent downward momentum

NOW is trading below the MA-20 and MA-50, while still holding above the MA-200 level on the daily chart. The Ichimoku Kijun at $141.05 serves as immediate resistance. Momentum indicators are mixed: MACD and ADX offer neutral signals, with an RSI of 33.52 indicating a sell reading. Stochastic RSI and CCI both remain oversold, and Bull/Bear Power points to ongoing seller dominance in the intraday session. The Awesome Oscillator confirms sustained downward momentum. Despite the sharp downside pressure and dominance of sellers, short-term oscillators highlight a divergence from the bearish momentum, as oversold readings raise the potential for a near-term bounce.

Downside bias persists as consolidation expected within defined range

Over the next 2–3 trading days, the expected price range for NOW is $129.51 to $138.89, reflecting typical volatility bands at current levels. The probability of an upward move stands at 32%, with a downward move more likely at 68%. The baseline scenario anticipates price consolidation within this range. A move above $141.05 would signal a potential breakout and shift bias to the upside, while a decline below $129.51 would indicate further downside risk and reinforce short-term negative momentum.

Viktoras Karapetjanc, expert at Traders Union, sees potential for ServiceNow (NOW) to rebound despite current downside pressure. He notes that the stock remains above its long-term support and the oversold indicators suggest a possible near-term bounce. However, bearish momentum is still in control, and resistance at $141.05 is key for a reversal. Karapetjanc remains constructive but acknowledges the prevailing seller dominance. "If NOW can hold above $129.51 and reclaim $141.05, the odds of a bullish reversal will increase meaningfully in the short term."

Earlier, analysts noted that ServiceNow was exhibiting signs of short-term uncertainty amid competing technical and momentum signals. The current analysis signals a shift to a more pronounced downside bias, with the $129.51 level emerging as crucial support to watch for potential further declines.

Source of Data: NOW Price Analysis by TU

The analysis is based on a proprietary model combining technical, on-chain, and expert data. Not investment advice. See methodology

The information is based on forecasts and does not constitute investment advice or a guarantee of future results. Market conditions may change. See our Disclaimer and Editorial Integrity for details.