For some reason, people are really bullish on 
NOW, but the chart doesn't support the view that the stock is ready for a bull move.
Similar to
IGV, yes the stock has fallen a lot, but that doesn't meant the bottom is in.
The move higher today was just a retest of resistance and now it looks like we're set for the next move down. It's possible that it can move to the next resistance, but RSI already looks overbought on lower timeframes so I lean towards the move to $110 this morning being the local high.
I think the stock hits $50 before it looks like a buying opportunity.
NOW, but the chart doesn't support the view that the stock is ready for a bull move.Similar to
IGV, yes the stock has fallen a lot, but that doesn't meant the bottom is in.The move higher today was just a retest of resistance and now it looks like we're set for the next move down. It's possible that it can move to the next resistance, but RSI already looks overbought on lower timeframes so I lean towards the move to $110 this morning being the local high.
I think the stock hits $50 before it looks like a buying opportunity.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.