Opinions
Jim Cramer - Mad Money
Servicenow
NOW-N
BUY
Oct 18, 2021
Tim Collins, a technical analysts, is bullish cloud stocks. It's recently pulled back from recent highs in a "flag pattern" or "continuation pattern" which means that consolidating, a stock will resume its march higher. Before this consolidation happened, NOW was nicely moving higher, then POW in August an explosion to the upside. Recently it's declined with lower highs and lower lows over a few weeks. But in last week's rally, NOW broke until its old ceiling of resistance has become its new floor of support. Collins sees new resistance at $680, its old all-time high. If it doesn't break out, this could fall to $630-650. Below $610, he'll exit. But if it holds current support, this will head higher.
$666.220
Stock price when the opinion was issued
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