Star performer in my portfolio - VEEV has a technical chart

Asphen
03-17


Price Update (17 Mar 2024 - reference weekly chart)

- Above weekly MA50 

- Is testing the resistance level of breakout of the accumulation range (164 to 232)

- It could fail the test of breakout this time and will depend on where it pulls back to

- If it stays above mid point of accumulation range (199), bullish future remains

- Weekly Chart - MA5 and MA20 are above MA50


Bull Case

- Break 232 enroute to 267 (has to stay above 232

- Failing the breakout, getting back into range, it must stay above 199 but importantly to note how it handles the 2 fib golden level of 208 and 192

- If pullback stays above 192, then Fib extension points to 267 as a possible target


Bear Case

- Breaks below 232 and remains in range and need to build momentum for another push for break

- Possibly down to 164/165


My plays

- Had nibbled a good base at 170

- Will nibble more if price action remains between 232 down to 199


Good luck, all

VEEV Weekly Chart - 17 Mar 2024

@melson  @TigerStars  @macroB  @CaptainTiger  @Deposit  

$Veeva(VEEV)$  

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Comments

  • melson
    03-17
    melson
    oblivious to the general uptrend in us market
    • Asphen:Ā 
      šŸ˜‰ steadily but assuredly
  • koolgal
    03-18
    koolgal
    Congratulations šŸ’šŸ’šŸ’ I must check out this stock šŸ˜šŸ˜šŸ˜
  • Deposit
    03-18
    Deposit
    wow
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