Looking like it might try and breakoutSoftware stocks were on a tear last week. Even while market was cooling off there were a lot of software stocks making new swing highs. Posted $SHOP last week. $NET $TEAM had nice moves after ER's. If market wants to go sideways again and just not fall then keep an eye on software. That would be week one of a possible reversal. Dont want to jump the gun there but I like the way the charts are shaping up.
$NOW has downtrend line break as well as the top of the range right above it. If that breaks this should have a nice move higher. Keep it on watch next week.
NOWW trade ideas
ServiceNow to Start Another Wave Down. NOWI believe we are finishing off X Wave here, which supposes we are to start a new zigzag soon. A zigzag to the downside, because I do not see a single bit of evidence to suggest a bullish rally.
We are not in the business of getting every prediction right, no one ever does and that is not the aim of the game. The Fibonacci targets are highlighted in purple with invalidation in red. Confirmation level, where relevant, is a pink dotted, finite line. Fibonacci goals, it is prudent to suggest, are nothing more than mere fractally evident and therefore statistically likely levels that the market will go to. Having said that, the market will always do what it wants and always has a mind of its own. Therefore, none of this is financial advice, so do your own research and rely only on your own analysis. Trading is a true one man sport. Good luck out there and stay safe.
RectangleEarnings 7-27 AMC.
Neutral pattern until a trendline is broken with a trend in that direction.
Mid Rectangle is 463.02 and some use this level as a stop if trading inside the rectangle.
No recommendation.
EPS (FWD)
7.31
PE (FWD)
60.22
Div Rate (FWD)
-
Yield (FWD)
-
Short Interest
2.11%
Market Cap
$88.20B
ServiceNow, Inc. provides enterprise cloud computing solutions that defines, structures, consolidates, manages, and automates services for enterprises worldwide. It operates the Now platform for workflow automation, artificial intelligence, machine learning, robotic process automation, performance analytics, electronic service catalogs and portals, configuration management systems, data benchmarking, encryption, and collaboration and development tools. The company also provides information technology (IT) service management applications; IT service management product suite for enterprise’s employees, customers, and partners; IT business management product suite; IT operations management product that connects a customer’s physical and cloud-based IT infrastructure; IT Asset Management to automate IT asset lifecycles; and security operations that connects with internal and third party. In addition, it offers governance, risk, and compliance product to manage risk and resilience; human resources, legal, and workplace service delivery products; safe workplace applications; customer service management product; and field service management applications. Further, it provides App Engine product; IntegrationHub enables application to extend workflows; and professional, industry solutions, and customer support services. It serves government, financial services, healthcare, telecommunications, manufacturing, IT services, technology, oil and gas, education, and consumer products through direct sales team and resale partners. It has a strategic partnership with Celonis to help customers identify and prioritize processes that are suitable for automation. The company was formerly known as Service-now.com and changed its name to ServiceNow, Inc. in May 2012. The company was founded in 2004 and is headquartered in Santa Clara, California.
NOW: Big Buying OpportunityI have long been a pessimist of this stock solely because of its high P/E, but after this weeks sell-off of almost 20% it's not a big gamble to go long here. With a gap created, I think it's feasible to see NOW to get back to $470 before shorting again.
If you see what I see you know why, but if not feel free to message me and I'll explain further. Trying to keep these posts short and sweet for us pro traders
Not financial advice
$NOW Not Going to Be An Easy ShortThe bears are all over on this stock and the media are saying more downside is expected. I agree but not so quick. It is possible to get a short term upthrust to shakeout and then the price eventually would return to value level. If you are already a buyer, try to trim some on any strength when that presents.
NOW 460 PE head & shouldersIn a market where stocks like MU have a 7 PE getting taken to the woodshed one has to wonder how this can have a 460 PE!? I have traded service NOW for almost a year off and on both long and short, mostly short. Head & shoulder clear on chart as I posted 6 months ago, bear market rallies are an opportunity for bagholders to exit overpriced overvalued stocks.
NOW - Fall to Major Trend LineNOW has developed a strong trend line on the daily timeframe it is quite above this line right now (solid white line)
It has broken now below the dotted ascending white line, so I am assuming price decline will decline to the strong major trend line
Three bottoms along this line will be in red circles
NOW 450 PE head and shoulders bear market Service NOW stock looking tired from recently rally. Service NOW has posted great earnings repeatedly, no doubt. But 450 PE ratio is outrageous considering the bear market we are heading into. First target is $450, next target is a new 52 week low under $400
NOW for a bear market rally bounceI have only shorted this stock in the past because of the head and shoulders formation I have previously drawn out when stock was well into the $600's and failed to breach the $619 neck line. It's highly overvalued by PE metrics though they continue to grow and post blowout earnings. NOW is trading above the cloud and the bottom of the downward channel which should bounce to $523.35 before continuing lower.
JICPT| Bullish setup of Now on sideway structureHello everyone. Now has got my attention as its price approached the bottom of the range, followed by a series of bullish candle sticks.
On the weekly, it's rebounding from the long-term MA.
On the daily, it's leaving the bottom area with $546 and $592 served as supply level.
What do you think? Give me a like if you're with me.
NOW failed to break neckline on head & shoulders= DEATH CROSS!!!Death cross officially printed last week, along with the Nasdaq. This is a SELL signal! Next stop $480. The PE has come all the way down to 491 lol. As multiples continue to compress on these high flyers this stock has a long road to go with many bounces and failed attempts to rally. Without help of the fed's perpetual 14 years of QE and artificially low interest rates these companies will have to learn to live within a budget without benefit endless free cash in this mother of all bubbles stock market casino!