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N1OW34 trade ideas

ServiceNow Sneaks HigherMany big technology stocks pulled back sharply in recent weeks, but ServiceNow could be sneaking higher. The first pattern on today’s chart is the falling trendline along the highs of July 5 and 23. Strong quarterly results pushed NOW above this resistance on July 25, and it has remained there since. Second, prices have stayed above the 50- and 100-day simple moving averages (SMAs). The Nasdaq-100, in contrast, recently hit its 200-day SMA. That may reflect relative strength in the software company. Next, the shaded boxes highlight tight squeezes between the 50- and 100-day SMAs. Their current proximity is potentially reminiscent of late October, before the stock rallied to new highs. Fourth, the 8-day exponential moving average (EMA) has crossed above the 21-day EMA. (See our 2 MA Ratio custom script in the lower study.) That could suggest the short-term trend is getting bullish. Finally, $707.60 was the previous peak in November 2021 before rate hikes triggered a bear market in tech stocks. NOW has spent most of this year fluctuating around this level. Could it finally escape long-term resistance? TradeStation has, for decades, advanced the trading industry, providing access to stocks, options and futures. See our Overview for more. Past performance, whether actual or indicated by historical tests of strategies, is no guarantee of future performance or success. There is a possibility that you may sustain a loss equal to or greater than your entire investment regardless of which asset class you trade (equities, options or futures); therefore, you should not invest or risk money that you cannot afford to lose. Online trading is not suitable for all investors. View the document titled Characteristics and Risks of Standardized Options at www.TradeStation.com . Before trading any asset class, customers must read the relevant risk disclosure statements on www.TradeStation.com . System access and trade placement and execution may be delayed or fail due to market volatility and volume, quote delays, system and software errors, Internet traffic, outages and other factors. Securities and futures trading is offered to self-directed customers by TradeStation Securities, Inc., a broker-dealer registered with the Securities and Exchange Commission and a futures commission merchant licensed with the Commodity Futures Trading Commission). TradeStation Securities is a member of the Financial Industry Regulatory Authority, the National Futures Association, and a number of exchanges. TradeStation Securities, Inc. and TradeStation Technologies, Inc. are each wholly owned subsidiaries of TradeStation Group, Inc., both operating, and providing products and services, under the TradeStation brand and trademark. When applying for, or purchasing, accounts, subscriptions, products and services, it is important that you know which company you will be dealing with. Visit www.TradeStation.com for further important information explaining what this means.
NYSE:NOW
by TradeStation
ServiceNow to continue Steamrolling towards $960Like NYSE:CRM , successful customers of ServiceNow become locked into the NYSE:NOW ecosystem and as they add functionality to their platform they gain an ever larger share of the IT department OPEX budget. Numbers wise, NYSE:NOW continues to steamroll forward with Forbes reporting: Q1 2024 revenue: $2.6 billion — up 24% and $10 million above consensus as tracked by FactSet, noted Investor’s Business Daily. Q1 2024 subscription revenues: $2.523 billion — up 24.5% in constant currency, $10 million above the consensus, IBD reported. Q1 2024 current remaining performance obligations: $8.45 billion — a 21% increase from the year before and $40 million above consensus, according to IBD. Q1 2024 adjusted earnings per share: $3.41 — a 44% increase from the year before and 27 cents per share above the consensus, reported Reuters. Q2 2024 subscription revenue forecast: A range between $2.525 billion and $2.530 billion — the midpoint of which is about $1 million below the $2.54 billion London Stock Exchange consensus, according to Reuters. From a pre earnings high of $813 to a post earnings low of $663, NYSE:NOW looks well positioned to march up to new highs, potentially as high as $960/share, with Analyst Day tomorrow May 6th followed by the start of their annual customer conference Knowledge 24 on Tues May 7 where bystanders will see over 20,000 NYSE:NOW customers flock into the crowded halls of the Sands Convention center in Vegas showing the true strength of their customer base. Buying calls. Good luck All!!
NYSE:NOWLong
by MP888
NOW: Re-Load the BullFundamentals: Now was on the watchlist in 2023. It was a good stock to invest in, then. I wrote at that time, "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%." Things have gotten better. And now ( pun intended ), NOW's status has been elevated into "superstock". Sales have accelerated, as well. Technicals: Daily uHd Daily extremes signal Daily Morning Star
NYSE:NOWLong
by Rocketman
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
NYSE:NOWEducation
by ShaneBlankenship
2
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.
NYSE:NOW
by longsonvn
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.
NYSE:NOWLong
by AwesomeAvani