NOW April 17, 2024: Can It Hold The Support?On April 17, 2024, NYSE:NOW is trading right at its support level since January, 2024.
A break down below this support level will suggest a further decline of 10% to its MA-200
NOW trade ideas
NOW looks good for $800 again. I like supports, volume, and trend. IMO. I already played this weeks ago but re mentioning again. NFA
One-Line Practice: Set Yourself Aside and FollowIn this video, I set up a trading plan and introduce a trend line exercise you can practice in any market and in any time frame. There is no one right way to draw a trend line, it's a matter of function and what you are trying to see. We will be drawing a trend line off two relative (same size swings). This will identify the footprints of organized volatility on a chart.
This exercise is designed so that you can learn about markets and price flow in your own hand. Its objectives are:
1. Learn to isolate relative market structures.
2. Learn to set yourself aside and follow price no matter what price is doing.
3. Allow the practice and price flow to teach you.
We first need to make some objective swing definitions:
Confirmed Swing High/Low: A new high confirms a swing low and a new low confirms a swing high.
Balanced/Relative Swing: Same size reaction legs.
One Line Practice Instructions:
1. Identify two confirmed relative (same size reaction legs) swings.
2. Anchor a trend line at the two lows and make observations (not expectations) about how price interacts with the line.
3. Always follow the last two relative confirmed swings with the trend line.
4. Draw a box across the top of each swing and observe how price interacts with the boxes.
By identifying two same sized swings that confirmed new highs, we have found some organized volatility and behavior. We can then participate in that continued behavior or have a way to know when it changes.
Shane
NOW March 22, 24: Huge Volume on Down MovesFrom the low in November 23, NYSE:NOW has been going up quite well, 40% from $550 to $775.
I myself also made a trade which was not successful (see in the related ideas section for details).
However what made me to be more cautious is that there are so many down days with huge volume, while volume during up days were very normal.
Maybe NYSE:NOW will still go up because if looking at its key moving averages MA-50/150/200 the trend is still up for the stock, and the overall market is still in uptrend. But I will prefer other stocks with better volume characters.
NOW March 13, 24: NOW!Among the stocks flashing buy points mentioned by IBD Stock Market Today, NYSE:NOW is the one I like the most, the other stocks mentioned include NASDAQ:MSFT which I also posted separately during the day.
The other stocks are NASDAQ:SWAV NYSE:AROC NASDAQ:SYM
Why do I like NYSE:NOW the most? Because the pattern looks much tighter and more constructive. The stock is going up right from the MA-20, MA-50
NOW March 15, 24: A Fail BreakOn March 15, 24, NYSE:NOW crossed down the trendline AND its moving average MA-50 which is a sell signal.
I believe the stock is still in a good long-term uptrend however currently it might needs some time to consolidate before moving up further.
See the previous analysis in the related idea section.
Wave of the day:$NOW4. good reasons for NYSE:NOW stock
1. Breaking out from the corrective channel
2. Rising MACD histogram
3. Buying Volume coming in
4. Analysts have set a mean price target forecast of $864.5. This target is 9.49% above the current price.
What's your take on NYSE:NOW ? Comment below
Legal Disclaimer: The information presented in this analysis is solely for informational and educational purposes only and does not serve as financial advice.
Where NOW is going will depend on CPI data tomorrowNYSE:NOW is consolidating pretty tight. It will depend on the CPI data tomorrow, if the CPI is favorable, the stock can go high quickly.
NOW is a buy after a down tech stock day LONGNOW is on 15 minute chart with a volume profile overlaid and relative volume and volatility
indicators below the chart. NOW had a good earnings beat late January. It is halfway to the
next earnings. I think right now software stocks are hotter than hardware/ networking stocks.
NOW got dragged down by technology headwinds into its support and the fall got rejected
by buyers near to the close of the regular market hours. The lower VWAP bands are confluent
with the support zone and confirm deep oversold and undervalued stock price.
I believe this is excellent for a long trade perhaps lasting until the run-up before earnings is
6-7 weeks through the buy of a small lot of shares or a call option expiring at the May or June
monthly in the range of $750 ( OTM). This will complement existing positions in CRM
CRWD and PLTR.
NOW LONGS ( OPTION SIGNAL )NOW 815 STRIKE 23 FEB EXP CALL
NOW is setting up for a bullish pattern and our Ai algo has turned bullish on it
Expecting to prices to break 800 in 3 weeks time
More Upside to 770-780NOW is very bullish currently, expecting upside continuation as long as it breaks dashed orange and red resistance directly overhead.
Initial Target = 730 by 1/12/2024 (possibly sooner)
Goal Target = 770-780 by 1/19/2024 (earliest... give it more time if playing calls, go out until March 2024)
Today (12/28) should be very bullish, likely testing orange resistance as market attempts new ATH.
ServiceNow: Growing Fund OwnershipFundamentals :
A strong company with increasing number of funds clamoring for its stock. I also like its sales and earnings, its strength relative to the S&P500, and its forward-looking est. growth in 2024. Return on equity is about 35%.
Technicals :
Week of Sept 25th hammer candle and Week of October 23 engulfing candle with huge volume produced a bottom. Then, a recent breakout, confirming the support.
Confluence:
a-b-c equal legs completion
uHd
Extreme Bottoming indicator
Price in double G-TAZ zone
First pb of new trend up
NOW short positionHi traders,
let's have a look at the NOW chart.
The price is now at the resistance and on RSI index we can see it is overbought.
We can expecting pullback and therefore we can take short position here.
Target 1 and target 2, entry price and stop loss are shown on the graph.
Earnings AMCEarnings today.
Descending triangle which is neutral until broken.
Top line slopes down and bottom line is support and virtually flat.
Rectangle, another neutral pattern, is also noted. Top line of rectangle is 614.36.
No recommendation.
ServiceNow, Inc. provides enterprise cloud computing solutions that defines, structures, consolidates, manages, and automates services for enterprises worldwide. The company operates the Now platform for workflow automation, artificial intelligence, machine learning, robotic process automation, process mining, performance analytics, electronic service catalogs and portals, configuration management systems, data benchmarking, encryption, and collaboration and development tools. It also provides information technology (IT) service management applications; IT service management product suite for enterprise’s employees, customers, and partners; strategic portfolio management product suite; IT operations management product that connects a customer’s physical and cloud-based IT infrastructure; IT asset management; and security operations that connects with internal and third party. In addition, the company offers integrated risk management product to manage risk and resilience; environmental, social and governance management product; human resources, legal, and workplace service delivery products; safe workplace suite products; customer service management product; and field service management applications. Further, it provides App Engine product; Automation Engine enables application to extend workflows; platform privacy and security product; procurement operations management suite; and professional and customer support services. The company 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.
Stage 4 ContinuationWeinstein Stage Analysis:
NOW is currently in a stage 4 downtrend, until we see a significant change in trend then I am expecting price to continue declining. First reversal area can possibly be the 200 moving average. After that if it breaks then we may see a prolonging trend lower.
NOW ServiceNow Options Ahead of EarningsAnalyzing the options chain and the chart patterns of NOW ServiceNow prior to the earnings report this week,
I would consider purchasing the 470usd strike price Puts with
an expiration date of 2024-5-17,
for a premium of approximately $27.80.
If these options prove to be profitable prior to the earnings release, I would sell at least half of them.
Looking forward to read your opinion about it.
$NOW: Weekly and quarterly uptrendLow risk idea here, with a tight stop being feasible to enter long positions in NYSE:NOW , ahead of earnings next week. I suggest a small position, say 1 to 5% of your portfolio to be safe.
Upside target is near $1000 for the long term chart, weekly trend points to the signal target shown on chart, with the cyan box and take profit level shown.
Best of luck,
Cheers,
Ivan Labrie.
Bullish IdeaNOW had earnings the other day beating both revenue and earnings, however fell due to some fundamentals.
From a technical standpoint, VWAP suggests buyers are supporting the stock at the low price near the floor. Price looks as if it's ready to break thru the ceiling and recover some of it's lost ground from yesterday. VWAP suggests buyers are supporting it at this low price and in addition, it looks like it can break thru a few key Daily moving averages.
This is a day trade. I'm not looking to swing it, however, depending on how strong the possible move is, and from the overall market and sector sentiment, I may consider scaling down and leaving a few runners.
This is not financial advice, merely my opinion. Remember, there is no such thing as a guaranteed move!
NOW Entry, Volume, Target, StopEntry: when price clears 563.63
Volume: with daily volume greater than 1.39M
Target: 597 area
Stop: Depending on your risk tolerance; 552.52 gets you 3/1 Risk/Reward.
This swing trade idea is not trade advice and is strictly based on my ideas and technical analysis. No due diligence or fundamental analysis was performed while evaluating this trade idea. Do not take this trade based on my idea, do not follow anyone blindly, do your own analysis and due diligence. I am not a professional trader.
Head and Shoulders on NOWHead and shoulders may be in play on NOW. Likely will be valid if S&P continues to correct. Easy invalidation given the most recent candle. Looking to exit on Daily gap fill around $517.
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.
