ServiceNow Inc. (NYSE:NOW) stock traded higher on Wednesday, outperforming both the broader market and the technology sector as investors gravitated toward relative strength names despite a risk-off session.
The stock gained about 2% while the Nasdaq Composite fell 1.3% and the S&P 500 declined 0.9%. The Technology Select Sector SPDR Fund (XLK) also traded lower, making ServiceNow’s advance stand out.
Technical Strength Stands Out
ServiceNow’s gains appear driven by technical resilience. The stock is holding above several key moving averages and continues to build on its recovery from the April low.
Shares remain above the 20-day simple moving average of $107.08, the 50-day SMA of $99.42, and the 100-day SMA of $106.40. That setup supports a constructive near-term trend.
