ServiceNow: earnings rebound on the Sell signal
ServiceNow jumps 12.6% on earnings as buyers retake control
ServiceNow: earnings rebound on the Sell signal
Our view last week
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.
This week's summary
ServiceNow stock answered earnings week with an explosive move: +12.6%, its strongest weekly gain in two months, closed with a bullish engulfing daily candle and buyers back in charge of volume. The rebound has carried the price right up to the Inversion Point, the level that would close out the Sell signal running for six weeks now. Our technical analysis is watching closely whether that tight resistance-support corridor holds.
IQS Phase
35
ordinary
Signal Strength
5
decline fading out
Sizing
MINIMUM
Ranking
#91 / 138
US stocks
Trade P&L %
-17.03%
from signal to date, no stop loss
Rank position
ranks 91st among the 138 sell signals for US stocks in our ranking, with a signal strength of 5 out of 100.
Sector context
SectorGrowth Tech
Benchmark ETFXLK
Sector regimeweak phase
Performanceweekly -0.30% · monthly -5.53%
NOW belongs to the growth tech sector (reference ETF XLK). The sector is classified weak phase according to our weekly reading.
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