Week 25 of 52 | NOW | AI Reset or Opportunity?ServiceNow, Inc.BATS:NOWRobert_V12NOW as been one of the strongest enterprise software stories of the last decade, but the chart is now telling a very different story. After trading above $230 earlier in the cycle, NOW has been rejected multiple times and continues to print lower highs. The downtrend line is still in control, and the stock is now testing one of the most important demand zones on the chart: $89–95. This is where the story becomes interesting. Fundamentally, ServiceNow is not a broken company. Revenue is still growing, enterprise demand remains strong, and AI could actually become a tailwind instead of a threat if companies use ServiceNow to manage workflows, automation, and AI agents across their businesses. But valuation still matters. The market is no longer rewarding software companies just for being “AI exposed.” Investors want proof: real AI revenue, strong margins, durable growth, and guidance that justifies premium multiples. That is why this level matters. If NOW defends the $89–95 zone, this could become a high-quality reset opportunity. A recovery back above $100 would be the first sign that buyers are stepping back in. From there, the next levels to watch are $105–110, followed by $115–121, and eventually $125–130 if momentum returns. However, if NOW loses $89, the chart opens the door for a deeper retest into the $78–82 zone. That would be a much better risk/reward area for long-term investors, assuming the business fundamentals remain intact. The major invalidation level is around $75–78. A strong break below that area would suggest the market is still repricing software lower and that the AI disruption fear is not fully priced in yet. Great company. Damaged chart. Important level. The opportunity is real, but confirmation matters. Key Levels: Demand / Current Test: $89–95 Reclaim Level: $100 Resistance 1: $105–110 Resistance 2: $115–121 Bullish Extension: $125–130 Deeper Buy Zone: $78–82 ServiceNow may still be one of the best enterprise software companies in the market, but right now the chart is asking one simple question: Is this a high-quality reset… or is software still being repriced lower? Not financial advice. Just sharing my personal view and technical analysis.