Some basic rules I have for shorting:
Must be below all key moving averages on the daily time frame - 10d/20d/50d/200dma
Broke down from a stage 3 top or in a stage 4 decline
Basing period / consolidation - the longer the better
Low relative strength rating (not RSI - people mistake the two)
Group/industry must be weak on a relative basis
Ideally earnings and...
VEEV is on the way to 358 USD ? Surely it is possible !
VEEV may have started the new up going wave ( labeled wave 5 ) bouncing back from 50 % retracement of the last rally ( labled wave 3) and after completion of an abc form of correction. If true it will go up to complete the up going Elliott wave cycle around 358 USD. Target may need update later based on...
These are the tickers which have closed below their 200 EMA today.( definitely entered Bearish trend )
Please pay attention to increased volume during down trend and the very same day these tickers closed below an important level.
VEEVA SYSTEMS INC, Rocket launcher loaded with pharma shells. 20/50ema crossing, bullish breakout continuation. Price target 309 for next year. Intermediate 300, possible pullback here. Anyway stay long, buy any dip.
Stop if market crashes as always.
#VeevaSystems hit the resistance. There are two ways; one ise fake breakout since the volume is getting low, or forming handle and break next time. It is so powerful anyway. Worth to watch this stock for a long term
Veev is a cloud computing company for biotechs that is on a tear. after jumping up massively in past year, Veev has consolidated and fallen slightly.
Please see RSI and MACD trends and relate them to previous trends in boxes. Veev looks to be going higher in the coming months. I'm in at $150 and will keep updated
I love it when fundamentals and technicals line up together. I am in general very bullish towards cloud-software companies, thats the future, especially when they have a footing in the pharma industry like veeva. This is a huge market and growing strongly year by year. The chart is a textbook bull flag. I am expecting a move into 80$ over the coming months....
Very weak sector, & we are in top of a rising sedge system. Money flow is showing strong divergence, It has huge downward potential if it breaks down.
You can check our detailed analysis on VEEV in the trading room/ Executive summery link here-
Time Span: 20:30”
Trade Suggestion Date: Aug 26th
Trade Status: Pending/Watchlist