After submitting a quarterly report that led to a sharp drop, Servicenow stock recently lost its footing. All short-term chart support has been torn apart. Today’s intraday trading price is below the support level of $46 2.50, which is the new year low before the start of the technical recovery.
It is important for the bulls to maintain daily lows and, if possible, allow further gains in the coming days. EMA200 is at a good $492.34, but the most important is the area between $507.06 and $511.71 as resistance. In the latter course area, EMA50 will also appear soon. If this approach is taken again, the bulls may close the gap in late April. The possible target range is between US$562.40 and US$566.70.
On the downside, the support level of $462.50 at the close is still important. If this practice is abandoned and the stock falls to a new low below $452.64, there is a risk of a significant price drop. In this case, a rate of less than $400 is also conceivable.
How does the price decline change in terms of valuation? not much. KUV is still athletic at 17 and 13 years old, while KGV is at 88 and 68 years old. In this regard, further price drops will even be welcomed, as potential newcomers are still on the sidelines so far.
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More information
| year | 2020 year | 2021e* | 2022e* |
| Sales (in billions of dollars) | 4,52 | 5,74 | 7,16 |
| Earnings per share (USD) | 4,63 | 5,51 | 7,07 |
| Profit growth | 19,01% | 28,31% | |
| KGV | 104 | 88 | 68 |
| I | 21,1 | 16,6 | 13,3 |
| Polyethylene glycol | 4,6 | 2,4 | |
| * e = expected |
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(© GodmodeTrader 2021-Author: Bastian Galuschka, Acting Editor-in-Chief)
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