Strategy published on : 06/29/2020 | 11:14
long trade under conditionStop-loss triggered
Entry price : 403$
Target : 446$
Stop-loss : 391$
Cancellation Level : 354$
Potential : 10.67%
ServiceNow Inc. shares are trading close to a major technical resistance, which, if broken, could yield new upside potential and an increase in volatility. This scenario can be anticipated.
Investors should benefit from the breakout of the $ 403 level to target the $ 446.
● The company has strong fundamentals. More than 70% of listed companies have a lower mix of growth, profitability, debt and visibility criteria.
● The company has solid fundamentals for a short-term investment strategy.
● According to sales estimates from analysts polled by Standard & Poor's, the company is among the best with regard to growth.
● Thanks to a sound financial situation, the firm has significant leeway for investment.
● The group usually releases upbeat results with huge surprise rates.
● For the last 4 months, the company has been enjoying highly positive EPS revisions, which were frequently and significantly raised.
● Analysts covering this company mostly recommend stock overweighting or purchase.
● The stock is in a well-established, long-term rising trend above the technical support level at 309.39 USD
● The stock is close to a major daily resistance at USD 402.82, which should be gotten rid of so as to gain new appreciation potential.
● The company's "enterprise value to sales" ratio is among the highest in the world.
● With an expected P/E ratio at 572.81 and 327.61 respectively for both the current and next fiscal years, the company operates with high earnings multiples.