NOW: Re-Load the Bull

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Fundamentals:
Now was on the watchlist in 2023. It was a good stock to invest in, then. I wrote at that time, "A strong company with increasing number of funds clamoring for its stock. I also like its sales and earnings, its strength relative to the S&P500, and its forward-looking est. growth in 2024. Return on equity is about 35%."

Things have gotten better. And now (pun intended), NOW's status has been elevated into "superstock". Sales have accelerated, as well.

Technicals:
Daily uHd
Daily extremes signal
Daily Morning Star

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Weekly chart update:

NOW is still consolidating still and trying to build a base. The sitting bull waits.

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The technicals show that the stock has retraced to its 2021 all-time high with decreasing volume. There is an a-b-c completion retracement, and this area is around 61.5* fib of January 2024 lows to Feb. 2024 highs and a 38% retracement of October 2023 lows to Feb. 2024 highs. Earnings comes out this week. Looking forward, NOW showed continue its upward trajectory. Target is 1216 per share by August 2024. Stop loss is 625. This is an 8:1 reward-to-risk ratio.

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