ServiceNow, Inc. provides cloud-based services to automate enterprise
information technology (IT) operations worldwide. Its services include a
suite of applications built on its proprietary platform that automates
workflow and integrates related business processes. The company's IT
infrastructure library applications include Incident Management for
restoring a failed service to an operational state; Problem Management
for resolving service outages or issues affecting various users; Change
Management that manages the proposal and approval process for changes to
be made to the IT infrastructure; Release Management, which assigns,
manages, and monitors the various tasks; Configuration Management
Database, an inventory repository; Service Catalog; Knowledge Management
for storing and displaying knowledge articles or documents; Service
Portfolio Management; and Service Level Agreement Management to monitor
and manage the progress by IT staff on assigned tasks. Its IT
applications also include Project and Portfolio Management for tracking
and managing projects; IT Cost Management to track staff work time,
project-related expenses, and labor costs; IT Asset Management to track
financial elements; IT Governance Risk and Compliance; Software
Development Lifecycle Management; Discovery, which discovers and maps
operational dependencies; and Runbook Automation to execute routine and
repeatable projects.
To review ServiceNow's stock, please take a look at the 1-year chart of NOW (ServiceNow, Inc.) below with my added notations:
NOW has rallied from a bottom of $25 in January to a new 52-week high
of $44 in April. Along the way, the stock has formed a nice trendline
of support (blue). Always remember that any (2) points can start a
trendline, but it's the 3rd test and beyond that confirm its importance.
Obviously NOW's trendline is important to the stock since it has been
tested on multiple occasions.
The Tale of the Tape: NOW has created a nice
trendline of support over the last (5) months. A long position could be
entered on a pullback to that trendline, which is approaching $38, with a
stop placed below that level. A short position could be entered if NOW
were to break the trend line support.
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