VEEV - Long term looks good!
Wider View
- Post COVID run built towards a distribution range between 260 and 330
- With the rate hikes, VEEV went on a sell down but has since been on an accumulation phase from 2022 until now
- And we are now at another possible attempt to break out the accumulation range
- Upside could be movement up to previous range again or up to 290 (middle of range)
Bullish View
- Price action moves in distribution and accumulation so it is enough for me to be bullish on VEEV long term
- Healthcare is rate sensitive so possibly break out of accumulation during rate cut periods
- Price action is now also in the upper range (above 193) which is also above MA50 on weekly chart (This all is telling)
Bearish View
- Stays within the range between 164 and 220 longer
My plays
- Continued accumulation of shares above 193 (Disclaimer - My cost base now is 170)
- Sold puts and will accumulate more puts if pullbacks to 193
Good luck, all!
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- JustinCooper·02-04TOPAgree! VEEV is a winner. 🚀1Report
- macroB·02-04TOPwill take note now 😆1Report
- melson·02-04TOPprobability of retracing down is higher1Report
- nickynails07·03-01Look, let me tell you something, there is someone called i̺n̺s̺t̺a̺gr̗a̰m͖d̝ạ (k̺l̺e̺i̺n̺_t̺r͓̽a̺d̺e̺3) and I started making money with him. ( k̺l̺e̺i̺n̺_t̺r͓̽a̺d̺e̺4 ) I have lived in vain until now, its difference is1Report
- Deposit·02-04v good analysis1Report