ServiceNow: sellers retake control of the decline
ServiceNow slips 4.2% as sellers retake control of the decline
ServiceNow: sellers retake control of the decline
Our view last week
ServiceNow's rebound off a double bottom in the 91 area keeps going: this week's technical analysis shows another 1.3% gain, with price climbing back toward the Inversion Point. Signal strength on the sell signal has dropped to 2 out of 100 — "decline fading out" — as the weekly MACD improves. Setup quality stays ordinary, and ServiceNow has slipped to 119th among the 137 US sell signals.
This week's summary
ServiceNow is slipping back: after the past few weeks' rebound had carried it close to the Inversion Point, this week the stock gave up 4.2%, with sellers back in control of volume at 71%. ADX keeps falling, a sign the trend is struggling to find conviction in either direction, while money flow has slipped back into negative territory. The price remains boxed between two close moving averages, just above and just below the 103 area.
IQS Phase
64
ordinary
Signal Strength
41
decline starting to make lower lows
Sizing
REDUCED
Ranking
#74 / 140
US stocks
Trade P&L %
-8.63%
from signal to today
restricted Platinum content