Open buy · week 9 · earnings on October 28
ServiceNow gains 4.8% and reclaims its 100- and 200-week moving averages
Our view last week
For the second week running ServiceNow lags its sector: it slips 0.9% while XLK, the technology ETF, gains 1.8%. Price went back to the 141 area, but the 200-week moving average, in the 137.5 area, turned it away again and volumes are contracting. ServiceNow stock stays in a buy signal, 7.6% up from entry: the technical analysis and the price action call for patience among tech stocks, with earnings on October 28 approaching.
This week's summary
ServiceNow lifts its head: up 4.8% in a week when XLK, the technology ETF, slips 0.5%, after two weeks spent trailing its sector. The bounce started from the 20-day moving average, in the 136.5 area, and carried price back above the 100- and 200-week averages. ServiceNow stock stays in a buy signal, 12.8% up from entry, among tech stocks. The technical analysis still wants proof: volumes are contracting and earnings on October 28 are getting closer.
IQS Phase
54
ordinary
Signal Strength
66
medium
Sizing
STANDARD
Ranking
#48 / 92
US stocks in progress
Trade P&L %
+12.80%
from signal to date, no stop loss
ServiceNow (NOW) weekly chart — EMA50 · MACD · VWAP
Weekly chart · EMA50 · MACD · VWAP · Source: TradingView
Rank position
ranks 48th among the 92 Longs already running for US stocks in our ranking, with a signal strength of 66 out of 100.
Sector context
SectorGrowth Tech
Benchmark ETFXLK
Sector regimein strong phase
Performanceweekly -0.52% · monthly +5.81%
NOW belongs to the growth tech sector (reference ETF XLK). The sector is classified in strong phase according to our weekly reading.
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