I still like this, but I think it needs more time to base. I’m moving it to the non-priority watchlist for now.
The financial health of NOW isn’t great, but their past earnings have been great and analysts seem to think their future growth is pretty outstanding. If that is true, I think the institutions may have their eye on this one and the correct setup is a good opportunity.
I though this was going to form a base, but was just a bounce on it’s way up. Looks like I missed this one for now. I will put it back on my non-priority watchlist and remove it from here.
Technically this looks like a great setup. It’s has declining volume during the base and had a shakeout. Look for volume to continue to decline and a day with extremely low volume to confirm the pivot. The fundamentals aren’t as impressive as I would have thought, but this is a market leader. Otherwise, I probably…