Interesting set-up for $VEEV.
Got in this one over a week ago.
Slightly under for now... but it's a longer term trade.
I am keeping my eyes on it to add some more.
There is a fair bit of support in the yellow rectangle area.
Red line on top is the recent resistance and the bold one below is the POC (point of control) for the last few months.
It's taking a...
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-
www.screencast.com
Time Span: 20:30”
Trade Suggestion Date: Aug 26th
Trade Status: Pending/Watchlist
VEEV broke and closed above resistance at 28.05 today on heavy volume (see daily chart). We can anticipate additional resistance around the $29 level due to the long-term descending trend line resistance started back in December 2013 (see weekly chart). If VEEV can close above this descending trend line it may mark the beginning of a fresh uptrend for the stock....
