To me it looks like VEEV is in a long term ascending broadening wedge from the time that it entered the aggressive uptrend that it has been in since February of 2016. When researching an ascending broadening wedge, things eventually go south for the asset that is printing that pattern. I am not sure when this will eventually tank hard, but I have been trying to play this stock off of the bottom trend lines each time as a long and a short. It is hard telling how high the price will go on VEEV before we get a nice big correction beyond the trend line, but to me, it looks like it could eventually happen based upon the ascending broadening wedge pattern.
It looks like VEEV and also INTU (and probably others) following a similar price movement have reached the very overbought, much the same as NVDA and W that @london55555 covered went over the cliff quite violently and perhaps the sign that we're on the doorstep of the next phase of the bear market.
dRends35
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@dRends35, That enormous wicked candle seems to indicate it's time for a trend change, perhaps
Dawnchorus
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@dRends35, I can't believe that it is still going. Insane, lol. This is the first stock that I've shorted, and so far it is acting as irrational as a cryptocurrency.
dRends35
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@Dawnchorus, I think perhaps we have arrived at one of the most difficult and dangerous moments in the stock market. However many many stocks look like the excessive froth are due for a hefty correction. Everything looks so unstable. Surely the penny has to drop sometime soon and perhaps today was the blow off top. Or perhaps its the beginning of a blow off top LOL