ServiceNow had its Relative Strength (RS) Rating upgraded from 75 to 81 Wednesday before the open. But that did not seem to stop the price from falling along with the market in general. As of this writing the NASDAQ is down about 1.25%, impacting most tech stocks.
When looking for the best stocks to buy and watch, one factor to watch closely is relative price strength.
IBD's proprietary RS Rating identifies market leadership by showing how a stock's price action over the last 52 weeks compares to that of the other stocks in our database.
Over 100 years of market history reveals that the market's biggest winners often have an RS Rating of above 80 as they launch their biggest runs.
See How IBD Helps You Make More Money In Stocks
The IBD Sector Leaders stock is building a cup without handle with a 494.72 buy point. See if it can break out in volume at least 40% above average. It was also added to SwingTrader on March 31. Not sure if it will be able to stay on considering today's market moves.
Earnings Update
While the company's top line growth fell last quarter from 21% to 20%, the bottom line grew 56%, up from 26% in the previous report. Look for the next report on or around Apr. 26.
ServiceNow earns the No. 1 rank among its peers in the Computer Software-Enterprise industry group.
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