The Next Test for NOW: Can Bulls Reach $130?
$ServiceNow(NOW)$
ServiceNow (NOW) Jumps +3.29%: Strong Rebound Momentum, Eyeing $130 Zone
Latest Close Data
Closed at $124.34 on 2026-03-09, up +3.29% (+$3.96). The stock is currently ~41.2% below its 52-week high of $211.48.
Core Market Drivers
-
The rally is likely fueled by a broader rotation into quality tech names.
-
As a leading enterprise workflow software provider, ServiceNow benefits from resilient corporate IT spending.
-
The recent appointment of key executives in AI and product roles may also be bolstering investor confidence in its long-term innovation pipeline.
Technical Analysis
-
Volume was robust at 25.97M shares (Volume Ratio: 1.36), confirming the bullish move.
-
The MACD histogram has turned positive for the fourth consecutive day, with DIF (-1.48) rising sharply towards the DEA line (-4.91), signaling strengthening upward momentum.
-
The 6-day RSI at 85.17 is in overbought territory, suggesting the move may be extended in the short term and consolidation could be due.
Key Price Levels
-
Primary Support: $120.17 (Today's low).
-
Strong Resistance: $154.20 (Recent key level from 2026-03-06).
-
Immediate Pivot: $124.66 (Today's high). A break above could target the $130 psychological level.
Valuation Perspective
The forward P/E of 30.45 (as of 2026-03-08) is significantly below its historical average of ~55.51, indicating the stock may be relatively undervalued compared to its own history, despite a high TTM P/E of 74.46.
Analyst Targets
Wall Street remains bullish. 42 analysts have an average price target of $190.85 (approx. +53.5% upside). The consensus rating is heavily skewed towards "Buy," with 14 Strong Buy and 30 Buy recommendations, versus only 3 Hold and 1 Underperform.
Weekly Outlook
Expect consolidation near the $124-$125 area in the coming sessions, given the overbought RSI(6). The key is holding above the $120 support. A successful hold could set the stage for a test of the $130-$135 resistance zone. A break below $120 may see a pullback towards the next support near $115.
Risk Disclaimer
This analysis is for informational purposes only and does not constitute financial advice. Past performance is not indicative of future results. Investing involves risk, including the potential loss of principal. Always conduct your own research and consider your financial situation before making any investment decisions.
For SG users only, Welcome to open a CBA today and enjoy access to a trading limit of up to SGD 20,000 with unlimited trading on SG, HK, and US stocks, as well as ETFs.
🎉Cash Boost Account Now Supports 35,000+ Stocks & ETFs – Greater Flexibility Now
Find out more here.
Complete your first Cash Boost Account trade with a trade amount of ≥ SGD1000* to get SGD 688 stock vouchers*! The trade can be executed using any payment type available under the Cash Boost Account: Cash, CPF, SRS, or CDP.
Other helpful links:
-
💰Join the TB Contra Telegram Group to Get $10 Trading Vouchers Now🎉
-
How to open a CBA. How to link your CDP account. Other FAQs on CBA. Cash Boost Account Website.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.
