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Bearish Moving Average Cross by Veeva Systems-A (VEEV)

By Nick Russo

Today, shares of Veeva Systems-A (NYSE:VEEV) have crossed bearishly below their 10-day moving average of $140.96 on a volume of 138K shares. Swing traders may find an opportunity for a short position, as such a crossover often suggests lower prices in the near term.

In the past 52 weeks, shares of Veeva Systems-A have traded between a low of $73.47 and a high of $145.29 and are now at $138.53, which is 89% above that low price. Over the last five market days, the 200-day moving average (MA) has gone up 1.5% while the 50-day MA has advanced 1.9%.

SmarTrend recommended that subscribers consider buying shares of Veeva Systems-A on March 14th, 2019 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $121.58. Since that recommendation, shares of Veeva Systems-A have risen 16.7%. We continue to monitor VEEV for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: moving crosses veeva systems-a

Ticker(s): VEEV