Market insights
NOW: In preperation of a cup 'n' handle setup$NOW marked recently its ATH at $363. Corona crash mid March was lately recovered, however not in a v-shape manner but in a cup shape.
The final formation of the cup was supported by earnings with high volume gains. The depth of the cup is $110.
The handle is still evolving. Breakout above handle trend line could be regarded as confirmation of the cup 'n' handle pattern.
Due to choppy market environment this time trade will not be entered before price has overcome previous all-time-high of $363 with conviction.
Target: 450 / 475
Entry Price: 363
Stop Loss: 295
Service Now $NOW is forming a "cup"ServiceNow jumped %12 last week with the help of earning results and forming a cup. To be confirmed needs to get above $362.95
NOW: 10%+ Growth Potential Post EarningsFirst off, please don't take anything I say seriously or at face value. As always, this is on opinion basis. That being said, let us get into my reasoning behind being bullish on Servicenow. Servicenow is expected by many to beat its earnings call the upcoming week, which could lead to a positive wave correlation. I think conservatively, it should pass the $320 price point and may even quickly surpass a $330 or $335 price point as well. As a short calling, I think this wouldn't be too high risk, but what happens seems to primarily depend on if Servicenow meets expectations. Is it worth buying prior or the risk? I think so.
volume and priceup with volume worked for me for most of the time, but these days i realize if it is too obvious, it is not going to work. Especially those popular leader stocks. like VRTX last time was up with volume (4/6/2020) but it consolidated for the next three days and triggered the stop lost. when it is too obvious it not going to work, consolidation is not that bad.
NOW - ShortLooking over the broader market, I am leaning towards the three up days as a bounce. I will be waiting for the trend to break. Looking at at 10% short.
NOW - LongServiceNow (NOW) retraced to complete a Wave 4 of 5 impulse move. In the process, it filled the gap created by the impulse move from Wave. Target 390-400 by mid to early April.
Swing NOWName Servicenow Inc
Symbol NOW
Price to Activate $357.01
Stop Loss $332.01
1st Target $385.57
2nd Target $428.41
The Market closed down today. The S&P 500 Index hit a new high. After hours NVDA is up over 6%. NVDA is up over 19% in our portfolio. Our stock pick for tomorrow is NOW. Have a great evening and happy trading!
- Bernard
Service now on breakout watchlist Entry level $295 - Target price $331 = Stop loss $287
Possible breakout imminent above $300.
Short term target at multiple Fibonacci levels.
all indicators bullish and rising but needs some significant volume to breakout past previous high $304.
A strong market could see the stock hit $375.
Is now the time to long Servicenow ? Entry level on breakout from a possible inverse head&shoulders pattern.
Await to see if volume picks up and await a back test for entry.
Golden cross completed confirming bullish mentality
Company profile
ServiceNow, Inc. engages in the provision of enterprise cloud computing solutions. It offers customer and facilities service management, orchestration core, service mapping, cloud and portfolio management, edge encryption, performance analytics, service portal designer, visual task boards and configuration management database. The firm offers its solutions for the industries under the categories of Healthcare, Education, Government and Financial services. The company was founded by Frederic B. Luddy in June 2004 and is headquartered in Santa Clara, CA.
NOWCouldn’t push out of 283 and broke down forming descending wedge. Now supported at 265 level. If this level is held, 270 is next level of resistance. 260 is next support if 265 level breaks down
Update on NOWPosted the gap fill yesterday. I want to see the close but possible reversal on daily forming
Busy chartchart has a lot going on but Im looking for a crack of 269.62 for a gap fill to 266.31, possible calls from there
