NOW breakdown update

NOW Corporation

NOW is on a breakdown continuation and hit the initial price target of an Upward Price Channel breakdown around 2.80.

Trading Plan
- Avoid for now.

NOW on a technical rebound

NOW Corporation

NOW is again on a technical rebound after hitting the support line of its uptrend price channel. The trend reversal was signaled by a Bullish Harami candlestick pattern as it hits the support area.

*Observe the volume on every pullback as well as the volume when it hits the resistance line of the price channel. A significant deviation from this pattern will likely warn a new direction of future price action.

See previous analysis as it hits the support line of the price channel including appropriate trading plan:
https://psetrends.blogspot.com/2017/03/now-price-action-is-back-to-uptrend.html

See previous analysis for reference on the prior pullback.
https://psetrends.blogspot.com/2017/03/now-bearish-pattern.html

Trading Plan
- Range trade the price channel.
- Set appropriate stop-loss on every trade.

NOW price action is back to the uptrend support

NOW Corporation

For the 4th time, NOW's price is back to the support line of its uptrend price channel. If it continues to follow the historical price action around this area, there will be a probability of a technical rebound.

Previous analysis:
https://psetrends.blogspot.com/2017/03/now-bearish-pattern.html

Trading Plan
- Test buy near the uptrend support line.
- Cut-loss on uptrend price channel breakdown.

NOW bearish pattern

NOW Corporation

An Evening Star candlestick pattern formed up on NOW after hitting the resistance line of its Upward Price Channel. This bearish candlestick pattern is a potential sign that prior uptrend is about to reverse.

*Price may potentially go back towards the support line of the Uptrend Price Channel.

Trading Plan
- Scale down or Sell position
- Avoid for now