At the end of November, Servicenow was promoted to S&P 500. I took this opportunity to introduce the stock in more detail. Fortunately, for anyone hoping to get started, the stock has merged and even fell back to EMA50. In the past few days, this popular moving average has been repeatedly confirmed as support. Today, the price dynamics are released to the north and support is at $264.50.
Judging from the structure since October, we can now speculate that the overall upward trend will continue. Since the chart has been cleared, the torn gap has been closed, and the downward pressure has recently been significantly eased.
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It is conceivable that the current impulse can reach at least a high of $284.30. Further short-term directions will be determined there. An upward break will pave the way for the all-time high of $302.99.
The profitable risk-reward ratio indicates this setting, as there are already tight stops below $263.53 in the market. Strict hedging always means that the probability of success is low, and traders should be aware of this. With such countercyclical entries, you usually need to make 2 to 3 attempts to catch the turning point well.
| year | 2018 | 2019* | 2020e * |
| Billion dollars in sales | 2,61 | 3,45 | 4,41 |
| Earnings per share (USD) | 2,49 | 3,24 | 4,22 |
| Revenue growth | 30,12% | 30.25% | |
| truck | 110 | 84 | 65 years old |
| I | 19,6 | 14,8 | 11,6 |
| Polyethylene glycol | 2,8 | 2,1 | |
| * e = expected |
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(© GodmodeTrader 2019- Author: Bastian Galuschka, Acting Chief Editor)
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