ServiceNow -4.3% ahead of earnings, ADX fading
ServiceNow drops 4.3% ahead of earnings as the ADX keeps fading
ServiceNow -4.3% ahead of earnings, ADX fading
Our view last week
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.
This week's summary
ServiceNow shares remain boxed in a tight band between the 102 area and the 97.5 area: the stock gave up 4.3% this week, the second straight weekly decline, yet the weekly ADX keeps falling and the trend keeps losing conviction. Money flow keeps sliding deeper into negative territory, while sellers still haven't managed to take full control of volume. With earnings due this very week, our technical analysis is tracking the setup closely.
IQS Phase
63
ordinary
Signal Strength
82
downtrend making lower lows, pace holding
Sizing
STANDARD
Ranking
#17 / 141
US stocks
Trade P&L %
-3.94%
from signal to today
Rank position
ranks 17th among the 141 sell signals for US stocks in our ranking, with a signal strength of 82 out of 100.
Sector context
SectorGrowth Tech
Benchmark ETFXLK
Sector regimeweak phase
Performanceweekly +0.17% · monthly -3.92%
NOW belongs to the growth tech sector (reference ETF XLK). The sector is classified weak phase according to our weekly reading.
restricted Platinum content