• NOW Corporation Generated A Clear BUY Signal At Php1.00!

    NOW Corporation Generated A Clear BUY Signal At Php1.00!

    As early as the start of the year, we’ve already been monitoring NOW Corporation. We noted that it would be primed for a major run-up as it was on the verge of completing a multi-year (long term) bullish reversal formation. On March 31, the key technical event that we had been waiting for finally occurred. In our Equity Advisor dated March 31, we mentioned that it would start a new uptrend and aim for at least Php1.60 given its breakout from its major resistance at Php1.00 on heavy volume. As you know, the stock has already jumped by about 240% since its break from the Php1.00 handle. Moving forward, the stock may still be expected to extend its run due to the lack of a bearish reversal yet. Still, one should already be a little cautious as there is already a presence of a bearish divergence among its price, volume and RSI. A present holder may ride it up but with trailing stops in mind. For those who are looking to get into it, it may not be advisable at this point from a risk-reward point of view.

    now corporation bullish reversal inverted head and shoulders 01.07.16

    NOW write-up from the Trading Edge Equity Advisor:

    March 31, 2016

    Now Corporation (NOW) may have placed itself at the early stages of a new uptrend. As you can see from its chart, after an initial failure to break above the Php1.00 hurdle, the stock has recovered from a subsequent low of Php0.60 to break anew past the Php1.00 handle. You see, its rise over the mentioned barrier is actually a trigger for a major bullish reversal as such marks the completion of a notable basing formation. Following its break past Php1.00, NOW may now head higher and aim for at least Php1.60.

    now corporation bullish reversal inverted head and shoulders breakout 03.31.16


    To know more about the Trading Edge Equity Advisor kindly click HERE. Subscribe now to receive email alerts before the price moves! 🙂

    *Consensus target price or average target price given by the major foreign and local brokers of various stocks on top of index names are available in our Equity Advisor!

    For those who are interested in technical analysis or learning how to profit using charts, we have an upcoming Technical Analysis Course on April 30 to May 1, 2016. For more information, you may send us a direct message here or text/call (+63) 917 899 90 09.

    Share on FacebookTweet about this on TwitterShare on Google+Share on LinkedInShare on TumblrPin on PinterestShare on StumbleUponShare on RedditDigg thisBuffer this pageFlattr the authorEmail this to someone