By Mill Chart
Last update: Aug 12, 2024
Groth investors are looking for stocks showing high revenue and EPS growth. We will have a look here to see if SERVICENOW INC (NYSE:NOW) is suited for growth investing, while it is forming a base and may be ready to breakout. Investors should of course do their own research, but we spotted SERVICENOW INC showing up in our growth with base formation screen, so it may be worth spending some more time on it.
Every stock receives a Growth Rating from ChartMill, ranging from 0 to 10. This rating assesses various growth aspects, including historical and projected EPS and revenue growth. NYSE:NOW boasts a 9 out of 10:
A critical element of ChartMill's stock evaluation is the Health Rating, which spans from 0 to 10. This rating considers multiple health factors, including liquidity and solvency, both in absolute terms and relative to industry peers. NYSE:NOW has received a 6 out of 10:
ChartMill employs its own Profitability Rating system for stock evaluation. This score, ranging from 0 to 10, is derived from an analysis of diverse profitability metrics and margins. In the case of NYSE:NOW, the assigned 8 is noteworthy for profitability:
Alongside the Technical Rating, ChartMill assigns a Setup Rating to evaluate the consolidation level of a stock. This rating, ranging from 0 to 10, is updated daily and considers various short-term technical indicators. The current setup rating for NYSE:NOW is 8:
Besides having an excellent technical rating, NOW also presents a decent setup pattern. We see reduced volatility while prices have been consolidating in the most recent period. There is a resistance zone just above the current price starting at 827.62. Right above this resistance zone may be a good entry point. There is a support zone below the current price at 781.80, a Stop Loss order could be placed below this zone.
Our Strong Growth screener lists more Strong Growth stocks and is updated daily.
Our latest full fundamental report of NOW contains the most current fundamental analsysis.
For an up to date full technical analysis you can check the technical report of NOW
Important Note: The content of this article is not intended as trading advice. It is essential to perform your own analysis and exercise caution when making trading decisions. The article presents observations created by automated analysis but does not guarantee any trading or investment outcomes. Always trade responsibly and make independent judgments.
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SERVICENOW INC (NYSE:NOW) is a strong growth stock with a bullish technical setup, supported by solid revenue growth and profitability. A breakout above resistance could signal further upside.