NOWWhen the markets start slipping it's important to be able to play both sides. Sometimes, you find setups like this one where every technical looks overbought, and theres nothing stopping it from falling. At the same time, we're in a bull market, and although all the signs point down, stocks will go up. I'm taking puts on $NOW due to MACD and RSI curling downwards, an overall shift out of tech, and the imminent correction needed in this stock due to how overvalued it's been! There's also a gap to fill from 546 to 543, with an overall PT of 508 in the coming weeks. Good luck!
4S0 trade ideas
$NOW with a bullish outlook following its earnings #BeststocksThe PEAD projected a bullish outlook for $NOW after a positive under reaction following its earnings release placing the stock in Drift A
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NOW - Blue Sky BreakoutNOW is a ticker that often flies under the radar when it comes to retail investors. With 80%+ institutional investment, NOW is a solid ticker and one that I consider a juggernaut. Even during the September and October corrections, NOW has rebounded extremely quickly and is one of the tickers in the S&P 500 that has delivered almost a 100% return on investment over the past year.
This is another blue sky breakout set up, which almost triggered this past Wednesday except we saw a spike in the VIX, and SPY/QQQ had a slight dip. When the market is ready to rebound, keep this ticker on close watch. 1/15/21 contracts could be a safe play here if you want to give it a bit of cushion. For me, if the market is able to reclaim the 9 EMA on the daily, I will consider 12/18 550c or 560c for a riskier, higher reward play.
PT1: 544.84
PT2: 561.06
PT3: 575.50
PT4: 596.25
$NOW posted its earnings with PEAD projecting a bullish outlook$NOW posted its earnings with PEAD projecting a bullish outlook for the stock with the price trading currently on the median line.
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