After the coronavirus pandemic, one of the most frequently quoted sentences is: “These recent developments have accelerated the digital trend by two to three years.” Therefore, since the March low, the Nasdaq may lead the rise again. Potential. Many technology giants have set record highs, and so far, the index itself has at least not achieved this goal. With the recovery going on almost as non-stop as previous sales, trading these changes is also very difficult. Due to oversold conditions, many stocks are directly in a completely overheated situation. Since yesterday, these numbers have gradually decreased.
The example shared by Servicenow illustrates this point well. Many other technology stocks also look similar. During the recent highs, these so-called buy signals are often no longer confirmed by indicators. In this example, you can see a clear deviation between RSI and CCI, while the price hits a new high. This is called negative divergence. The receipt will be sent out this week. Servicenow’s share obviously must give way.
The stock today reached a support zone between US$362.95 and US$351.29. This is also where the first rally traders entered. In the next few days, a decision must be made whether it is possible to successfully obtain a rapid trend confirmation of an exchange rate higher than 388.50 or higher than 396.15 US dollars, and the upward negative divergence will be broken, or the exchange rate is rebounding and moving down a bottom line Will get into trouble and give way later.
In this case, the bearish priority will be given priority, including the area around $303 as a target. There is an interesting mid-term entry level. In order to achieve this goal, the seller must show more. Anyone who wants to use today’s discount as a short-term trader should always hedge their positions. The starting position is different from, for example, April.
| year | 2019 | 2020e * | 2021e * |
| Billion dollars in sales | 3,45 | 4,35 | 5,56 |
| Earnings per share (USD) | 3,32 | 4,20 | 5,46 |
| Revenue growth | 26,51% | 30,00% | |
| truck | 109 | 87 | 67 |
| I | 20,1 | 15,9 | 12,4 |
| Polyethylene glycol | 3,3 | 2,2 | |
| * e = expected |
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(© GodmodeTrader 2020- Author: Bastian Galuschka, Acting Chief Editor)
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