What's Going On With ServiceNow Stock Wednesday? - ServiceNow (NYSE:NOW)

ServiceNow shares fell nearly 2% Wednesday as traders took profits after a recent rebound. The drop came during a mostly steady session: the Nasdaq slipped 0.11% and the S&P 500 rose 0.02%. Technical signals remain mixed. ServiceNow traded about 1.7% above its 20-day SMA of $122.30, 12.7% above its 50-day SMA of $110.32, and 4% above its 200-day SMA of $119.58. However, the 50-day SMA still sits below the 200-day SMA, and momentum indicators like MACD are below the signal line with a negative histogram. Resistance is near $139, with support around $117.50. The stock trades at a price-to-earnings ratio of 79.4, and holds a consensus Buy rating with an average forecast of $140.39.