Tech Tracker | ServiceNow, Inc. Targets $614.10 (8.0%); Adobe Breaks Out with $543.00 Stop Loss (-2.3%)

M+ Global Updates 18/10/2023 21:32

Our in-house experts provide daily technical analysis to assist investors in making informed trading decisions and enhancing their trading strategy.

Here's a summary of the technical analysis for 18Oct23:

1. Stock Name: ServiceNow Inc ( $ServiceNow, Inc. NOW$ )

ServiceNow, Inc. provides enterprise information technology (IT) management software. The Company designs, develops, and markets a cloud computing platform to help companies manage digital workflows for enterprise operations. ServiceNow serves customers worldwide.

Entry: Buy above $568.40

Target: $597.40 (5.1%), $614.10 (8.0%)

Stop: $547.10 (-3.7%)

Shariah: Yes

Technical: Flag-formation breakout

2. Stock Name: Adobe Inc ( $Adobe Systems Incorporated ADBE$ )

Adobe Inc. develops, markets, and supports computer software products and technologies. The Company's products allow users to express and use information across all print and electronic media. Adobe offers a line of application software products, type products, and content for creating, distributing, and managing information. Adobe serves customers worldwide.

Entry: Buy above $556.00

Target: $574.00 (3.2%), $591.20 (6.3%)

Stop: $543.00 (-2.3%)

Shariah: Yes

Technical: Flag-formation breakout

Source: Bloomberg, M+ Global (Malacca Securities)

More about Loui:

Loui Low leads a team of analysts to perform equity and economic research and to provide investment advisory services to the organization's sales team, fund manager and retail fraternity. He has more than 10 years of experience in the stockbroking industry.

He graduated with a Bachelor of Science in Statistics from University of Malaya. He also holds an STA Diploma and is a member of the Society of Technical Analysts (MSTA) United Kingdom.

More about the tech tracker :

Our technical analysis section is updated daily and features insights from our expert analyst, Loui, on the stock market. Traders may find some trading inspiration from Loui's views.

More Insights from Loui:

· M+ Global Tech Tracker - 3Oct23

· M+ Global Tech Tracker - 5Oct23

· M+ Global Tech Tracker - 6Oct23

· M+ Global Tech Tracker - 9Oct23

· M+ Global Tech Tracker - 10Oct23

· M+ Global Tech Tracker - 12Oct23

.

Disclaimer: The content is provided as general information only and should not be taken as investment advice. All the contents shall not be taken as a recommendation to buy or sell any security or financial instruments. Any action you take resulting from information, analysis, or commentary on this article is your responsibility. Please consult your investment advisor before making any investments.