ServiceNow Inc (NYSE: NOW)

ServiceNow, Inc. provides cloud-based services to automate enterprise IT operations primarily in North America, Europe, the Middle East, Africa, the Asia Pacific, and internationally. The company offers IT service automation applications, including incident management, problem management, change management, release management, request management, configuration management, asset management, project portfolio, software development lifecycle management, IT cost management, work management, vendor performance management, and resource management, as well as IT governance, risk, and compliance; case management applications, such as HR service automation that provide capabilities to manage the service delivery of human resources departments; and options and add-ons services, such as performance analytics and discovery services, as well as orchestration core, cloud provisioning, password reset, and configuration automation applications.
Take a look at the 1-year chart of ServiceNow (NYSE: NOW) below with added notations:

NOW had been trading sideways for the last 5 months, while forming a common pattern known as a rectangle. A minimum of (2) successful tests of the support and (2) successful tests of the resistance will give you the pattern. NOW’s rectangle pattern had a $65 resistance (blue) that the stock eventually broke through back at the end of October. The stock has already tested that $65 level as new support earlier in the month, and it looks like it may be on its way down to test it again.

The Tale of the Tape: NOW broke its rectangle resistance. The possible long positions on the stock would on a pullback to $65. A short opportunity would be on a break back below $65.
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