ServiceNow Surges 4.85% on Intraday Rally – What’s Fueling the Momentum?

Summary
• ServiceNow (NOW) rockets 4.85% to $931.06, piercing the $935.41 intraday high.
• Price action breaches 30D SMA ($914.13) and approaches Bollinger Upper Band ($934.20).
• Turnover surges to 1.95M shares, 0.94% of float, signaling aggressive positioning.

ServiceNow’s explosive move has ignited market speculation as the stock defies its long-term bearish trend. With Microsoft (MSFT) lagging at +0.63%, the Application Software sector appears decoupled from this rally. Traders are dissecting technical triggers and liquidity dynamics to gauge sustainability.

Technical Breakout Ignites Short-Term Bullish Sentiment
The 4.85% surge in ServiceNow is driven by a classic technical breakout. Price has pierced above the 30D SMA ($914.13) and is now testing the Bollinger Upper Band ($934.20). The MACD histogram (3.93) and positive crossover above the signal line (-23.85) confirm momentum. RSI at 54.29 suggests neutral overbought conditions, while the 200D SMA ($971.78) looms as a critical resistance. This move reflects algorithmic buying and short-covering, not fundamental news.

ETF Positioning and Technical Thresholds for NOW Bulls
• 200-day average: $971.78 (above current price)
• RSI: 54.29 (neutral)
• Bollinger Bands: Upper $934.20, Middle $885.06
• MACD: -19.92 (bullish crossover)

ServiceNow’s price is perched at the Bollinger Upper Band ($934.20), with the 200D SMA ($971.78) acting as a distant ceiling. Aggressive bulls should monitor the $935.41 intraday high for a breakout confirmation. While leveraged ETF data is unavailable, the RSI’s neutrality and MACD’s positive divergence suggest short-term continuation potential. No options are available for analysis, but a 5% upside scenario (targeting $977.61) would test the 200D SMA as a pivot point.

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Bullish Momentum at a Crossroads – Immediate Action Required
ServiceNow’s 4.85% rally has created a technical inflection point. The stock must close above $935.41 to validate the breakout, with the 200D SMA ($971.78) as the ultimate target. Sector leader Microsoft’s muted +0.63% gain underscores the stock’s independence from broader trends. Traders should prioritize liquidity at the $934.20 Bollinger Upper Band and watch for a breakdown below $885.06 to trigger a reversal. Act now: Secure tight stops below $889.95 or scale into longs above $935.41.