VEEV - Much to be bullish about. Will earnings change it?
Price Action (Update 17 May 2024)
- Charts of this counter had been quite technical
- Pullback has been tactically to find support around the golden pocket (fib 61.8 and 78.6)
- And price action balance had been found exactly at the Fib 61.8 (203) before recently breaking upwards
- It has since went above 209 and on 16 May, exactly back tested the 209 level
- Staying above 209 could well mean a path back to the all time high of 230+
- Note the gap above at 230 and 50% gap fill at 223 (all possible targets)
My plays
- With obvious targets above, am more bullish than bearish
- Holding to shares nibbled since the 180s
- Sold puts strikes 185 and 195 too
- Holding above 209, will sell more puts for earnings play at 195
- This is one of my portfolio play, so am long term on this counter
Good luck, all!
VEEV Daily - 17 May 2024
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