VEEV - One of my favorite plays late 2023 and into 2024 | Healthcare
Price action
- Entire 2022 and 2023 had been moving in range (between 160 and 225)
- Mid range is 193 (and guess where it is now ending 2023)
- Significant gap down on 9 Nov 2023 but has since fully filled the gap as of end 2023
- MA5 has since crossed above MA20 and MA20 is also soon to cross MA50
- On weekly charts, price action has moved above MA50 too (187)
My plays with optimism
- Any pullbacks I will grab at about 186 (Fibonacci 38.2 and also 50% gap fill confluence)
- Breaking 196 looks bound for 220
- Will sell puts strike 180 and 170
- Will continue to nibble into the counter (building a good base through tactical buys late 2023)
Good luck, all!
VEEV Daily Chart - 1 Jan 2024
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VEEV showing promise as expected.
Had indeed pulled back to test MA20 and passed well.
Bounced off 183 but largely hovered around 186 as previously shared.
Going for fib extension 208 and then the full cup formed at 220.
Nice counter!
@Deposit @YTiong @CaptainTiger @melson @macroB @TigerStars
Nice moves on 11 Jan.
Going for first extension at 208 and thereafter try for top of range 220
@CaptainTiger @melson @macroB @TigerStars @Deposit