ServiceNow (NOW) 2/2

Readers will now see that within that base is what we call a "right-angled descending broadening wedge". This is recognized as a pattern of bullish reversal. What this really looks like is an inverted ascending triangle. Both the flat line and descending trendline must be touched more than once to be valid. We have that here. Does this pattern ever fail? Of course. All patterns fail. This one though is thought to break-out to the upside far more often than to the downside. The February peak now becomes pivot. I am long this stock.