Massive Breakout - Service Now - Price Target $1000This wide moat stock is currently undervalued and ready for a massive breakout with the arrival of the golden cross.
Price target is >$1000 within the next 12 months.
4NOW trade ideas
NOW with a bearish outlook following its earnings #StocksThe PEAD projected a bearish outlook for NOW after a negative over reaction following its earnings release placing the stock in drift C with an expected accuracy of 33.33%.
NOW-SELL strategyNOW is overbought and has formed a "hammer top".
Strategy is SELL current @ $ 510 and take profit near $ 472. Stop-loss only if desired @ $ 535 (financial).
NOW-SELL strategyThe stock is overbought and it's in a too steep angle above the current GANN support lline. I suspect we will see a break/correction below the support $ 495 and to correct to $ 475 GANN 1/1 support area,
Strategy is SELL @ 510 and take profit @ 478. Stop-loss should be a financial one when desired.
383 by 5/22383 by May 22nd, or as early as May 11th (best case)
Then bounce
Needs to break below 434 but move is already set in motion
NOW long opportunityThis chart had a failed bearish breakdown which usually dictates more upside.
Since it was defended at support it does favor more upside.
A clear close back below the major Pivot low should be used as a stoploss.
Personally waiting for a pullback in the indices to go long.
$NOW in a nice downward channelWatching NYSE:NOW this week for a short position. The second top touch of the channel was super recent so its not a super strong resistance. However considering it runs parallel with a strong underside of the channel it gives me more confidence. If we get some confirmation to the downside we have a good amount of room to the downside.
Gap fill incomingHeading down to fill 393 gap by early April. I don't see it getting above 448-450 here tomorrow and will likely start move down by end of this week.
Watch 410-415 for possible support, but shouldn't stop it from dropping to 390s.
NOW - Short SetupLooking for a break below 422.84, potential stop signal 447.63, First target 374.13. 2nd Target 163.57. Significant insider selling in December and January.
Earnings Play 10-20% UpsideExpect pop to 480s tomorrow 1/26 then continuation to 520s by Feb 10th expiration
Last chance to get in on calls
This is the greatest stock of all time
$NOW with a Bullish outlook following its earnings #Stocks The PEAD projected a Bullish outlook for $NOW after a Positive Under reaction following its earnings release placing the stock in drift A with an expected accuracy of 78.57%.
NOW📈The stock has broken the bearish phase. Limit buy placed. The risk is that the limit order only gets reached if the broken trend line is retested. But that's okay.
NOW shortServiceNow to report earnings today January 26th After market close. NOW is expected to post quarterly earnings of $1.44 per share in its upcoming report, which represents a year-over-year change of +23.1%. Revenues are expected to be $1.6 billion, up 28.1% from the year-ago quarter. For this trade idea im looking to short a small position size for puts with an expiration of 5/20/22. Target $309.56.
A Path out of ResistanceNOW targets:
1 week: 439 - 451
2 week target: 468-488
1 month target: > 540
Stop Loss for calls: underlying < 398 (sustained break or close)
Stop Loss for shares: < 337
Perfect Buy Points: IPO’s – The Primary BaseJS-Masterclass #8:
Perfect Buy Points: IPO’s – The Primary Base
When it comes to investing in IPO stocks, new issues don't play by the usual rules.
Companies making initial public offerings draw a lot of investor attention. That often results in unusual and brand-new chart patterns. Volatility can rise as investors size up demand for the new stock. Yet there are opportunities in these cases, if you can spot the correct characteristics amid the price-and-volume action.
The framework of a good IPO base is simple. The decline from peak to low usually doesn't top 20%, but the most volatile markets have produced declines of up to 50%. The length is often less than five weeks and can be as short as seven days. These two factors alone make IPO bases wayward cousins compared with proper bases, such as the cup with handle and flat base, which need at least five to seven weeks of work.
In an IPO base, the pattern typically starts within 25 days of the stock's first day of trading. Know the important similarities with regular bases. For example, the buy point is drawn by taking the prior high and adding 10 cents. The price gain on the breakout should be strong.
There are ways to evaluate these blind spots, however. Important factors include seeing a shallow correction within the base during normal market conditions, a large increase in price and a close near session highs on the breakout day, and heavy volume on the breakout day and week.
Also, the stock should generally form the base above its IPO price.
Example - ServiceNow (NOW)
The business software company, went public in June 2012, at 18 a share and has built its primary base during the period from the initial offering to April 2013 when the stock developed its first perfect buy point.
$NOW with a Bearish outlook following its earnings #Stocks The PEAD projected a Bearish outlook for $NOW after a Negative over reaction following its earnings release placing the stock in drift C with an expected accuracy of 33.33%.
WOW! i like thisOMG what a massive gap
-i like the MONTHLY_WEEKLY between my entry and STOP
- i want the gap to fill and the bounce
Bear trend with a Gap in the last sectionInteresting situation, the stock price is in a bear trend, the price reaches a lower level of the area of attention between the level price 411.15 and 453.29. Leaving a big gap between the close price of the day before. Statistically, the gap price is usually covered in the next sections. the trend looks very symmetrical and looks following the moving average of the 50 periods using it as a support. Let's see in the coming weeks.
ServiceNow - Up to 40% Opportunity to the Downside?Fundamental Indicators:
Revenue- demonstrates consistent long-term growth, 5-year average at 34%
Profits – 2022 TTM has reduced
Net margin - quite low for tech company with just 2.79%
P/E – extremely high at 553 when S&P500 is at 21
Liabilities - debt ratio is at 0.62 which is within normal limits, Net Debt/ EBITDA is negative – no problems with debt
Conclusion – it is very likely to continue bear move with this financial performance
Technical Analysis (Elliott Waves):
Since the completion of the global correction in wave 4 which completed in February 2016we can observe an explosive growth in wave
Main scenario suggests that wave 5 takes shape of an Ending Diagonal with ABC patterns in each motive sub-wave 1-3-5
Waves 1 to 3 have completed and wave 4 is currently developing as a complex series of patterns
This maybe a good opportunity for a short position if $521.04 holds confirming that it is an Extended Flat formation in the link wave X which suggests that there will be another move to the downside in wave Y with target area of $300-$360
This is a higher timeframe to reflect the full history of ServiceNow and to provide full wave count:
What do you think about ServiceNow and its short term prospects?
Also let me know if you would like to see other stocks, indices, Forex or Crypto analysed using Elliott Waves.
Thanks
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.
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.
