NOW Drops to Extreme Oversold at $83.00
The stock of ServiceNow Inc (NOW) dropped 7.59% to close at $83.00 on April 11.
The technical setup looks bearish:
Momentum
RSI at 22.8 is depressed in oversold territory, where bounces often originate. MACD reads -5.69 against its -3.81 signal line (bearish).
Moving Averages
The stock trades below its 9-day EMA ($96.51) with the 21-day ($102.62) acting as overhead resistance.
Volatility
Price has pierced the lower Bollinger Band ($88.16), which often precedes a bounce.
Despite the bearish EMA structure, oversold RSI suggests patient buyers may find opportunity near $88.16.
The $88.16-$121.15 range defines near-term boundaries.
