NOW: Bearish Signs – Harmonic Pattern Hints Decline

ServiceNow (NOW): Bearish Setup Ahead of Earnings

ServiceNow (NOW) is showing signs of potential bearish movement as it nears its earnings announcement on January 29.

• Bearish Divergence: Notable on both the daily and weekly charts, suggesting weakening momentum.
  
• Double Tops Formation: A reversal pattern indicating potential selling pressure.
  
• AB=CD Harmonic Pattern: The bearish harmonic pattern has completed, signaling a possible correction.
  

Key Levels to Watch:
A closing below $999 would indicate a break of structure, potentially targeting the rising trendline support.
If you’re holding positions, consider off-loading some shares at current levels and re-evaluating after the earnings announcement.

Stay vigilant and monitor price action closely. Happy trading!