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ServiceNow Surging

Published 02/02/2021, 12:08 PM
Updated 07/09/2023, 06:31 AM

ServiceNow Daily Chart.

ServiceNow Inc (NYSE:NOW) has been moving well since its Jan. 27 earnings report. Today, shares are trading at new all-time highs after moving past the December peak. During the early stages of the powerful run off the March lows the 50-day moving average provided solid support. That appears to be the case again as the 50-day held the post-earnings low. We believe NOW is set up well for a fresh rally leg. The stock is far from overbought (daily MACD=Neutral).

Note: We are long NOW in our Tactical Opportunity Portfolio.

You can read Gary S. Morrow's original post here.

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