Analysts predict that ServiceNow can whether any economic conditions, but let's be realistic... NOW has one of the HIGHEST P/E ratios of any stock I follow and if it can't break above resistance which is around 562, I see this stock plummeting to under $400 real fast. I bought PUTS this morning as NOW was approaching $542. I'm comfortable if NOW reaches 562, because this stock moves in either direction very quickly.
Generally a good idea to observe the 3 day rule so likely late Monday or Tuesday the earnings run fades out,500 PE is nuts!!!. I'll be looking at puts Monday. Enjoy your weekend
FiboTrader1
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@ShortSeller76 I can't believe it ever got this high to begin with 😅 You as well!
ShortSeller76
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What strike and expiration? I was going to go long a couple days ago in the $470 range because it was so oversold. GL
@FiboTrader1, 3 Fridays. Nice, that's usually when I buy options 3 weeks out. I'm expecting the market in general to go up the next few weeks then continue the downtrend. Hopefully this continues Monday I was looking at 10 $560 puts, however those look good too. Sent you a PM to look at FICO maybe Monday late or Tuesday