$NOW

This week, there was a significant rally in software (SaaS) stocks Have SaaS stocks finally bottomed after dropping for over a year? Based on technical analysis, some stocks like ServiceNow ($NOW) have confirmed a change in trend to a new uptrend There are two ways to confirm an uptrend. 1) 50MA, 150MA and 200MA crossover with slope change OR 2) The 1-2-3 trend reversal (developed by Victor Sperandeo which I learnt in the 1990s) For those of you who are not familiar with the 1-2-3 technique, a downtrend to uptrend reversal is confirmed when 1) Price breaks above the downtrend and makes an intermediate high (Point B) 2) Price retraces to point C (Point C cannot go below the lowest low of the downtrend (point A) 3) Price closes back above Point B = Uptrend confirmed This 1-2-3 reve