The bears are all over on this stock and the media are saying more downside is expected. I agree but not so quick. It is possible to get a short term upthrust to shakeout and then the price eventually would return to value level. If you are already a buyer, try to trim some on any strength when that presents.
If the curve is broken and the head and shoulder is broken then measured move to green box. The monthly MACD has crossed should help the bear case. If the bubble pattern plays out the below the black line. Lot of bubble out there.
In a market where stocks like MU have a 7 PE getting taken to the woodshed one has to wonder how this can have a 460 PE!? I have traded service NOW for almost a year off and on both long and short, mostly short. Head & shoulder clear on chart as I posted 6 months ago, bear market rallies are an opportunity for bagholders to exit overpriced overvalued stocks.
Stocks like NOW have already filled the double gap. Most are now overbought on daily MACD's. IF markets start to sell off, MDB could fill the gaps on the downside.
NOW has developed a strong trend line on the daily timeframe it is quite above this line right now (solid white line)
It has broken now below the dotted ascending white line, so I am assuming price decline will decline to the strong major trend line
Three bottoms along this line will be in red circles
Service NOW stock looking tired from recently rally. Service NOW has posted great earnings repeatedly, no doubt. But 450 PE ratio is outrageous considering the bear market we are heading into. First target is $450, next target is a new 52 week low under $400
I have only shorted this stock in the past because of the head and shoulders formation I have previously drawn out when stock was well into the $600's and failed to breach the $619 neck line. It's highly overvalued by PE metrics though they continue to grow and post blowout earnings. NOW is trading above the cloud and the bottom of the downward channel which...
NOW is bottoming as well and similarly as AMZN stochastic RSI is positive on weekly chart. This gives good room for a recovery back towards $ 500-525.
Strategy BUY current $ 440-455 and take profit $ 515 for now.
Seems likely for NOW to fall to this weekly volume shelf at support before getting any meaningful bounce. Stocks continue to slide.
280-300 support is likely where it falls to
The PEAD projected a Bullish outlook for $NOW after a Positive over reaction following its earnings release placing the stock in drift B with an expected accuracy of 83.33%.
Hello everyone. Now has got my attention as its price approached the bottom of the range, followed by a series of bullish candle sticks.
On the weekly, it's rebounding from the long-term MA.
On the daily, it's leaving the bottom area with $546 and $592 served as supply level.
What do you think? Give me a like if you're with me.
The PEAD projected a Bullish outlook for $NOW after a Positive over reaction following its earnings release placing the stock in drift B with an expected accuracy of 80%.
Death cross officially printed last week, along with the Nasdaq. This is a SELL signal! Next stop $480. The PE has come all the way down to 491 lol. As multiples continue to compress on these high flyers this stock has a long road to go with many bounces and failed attempts to rally. Without help of the fed's perpetual 14 years of QE and artificially low...
Goals 474, 424. Invalidation at 781
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. Fibonacci goals, it is prudent to suggest, are nothing more than mere fractally evident and therefore statistically likely levels that the...
I've been holding puts on this for a week now and it, like other tech stocks, are floating up in space in consolidation mode. This stock is one of the most volatile and I think it'll play out nicely when it drops. And it'll be a BIG drop. Looking at $480 as first target, then $411.
Not financial advice
