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Possible Bearish Inside Day Candle Pattern Detected for Veeva Systems-A (NYSE:VEEV)

By Amy Schwartz

SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in Veeva Systems-A (NYSE:VEEV) based on the price action in the company's shares. Today's price range of $125.90 and $125.90 is within yesterday's high and low of the day. This trading action often signifies indecision by bulls and bears to drive prices higher or lower and often implies a possible change in trend. Owners of Veeva Systems-A may want to consider a possible hedge in the event a pullback occurs. Look for confirmation in the next few trading days.

Veeva Systems-A (NYSE:VEEV) is currently priced 43.1% above its average consensus analyst price target of $71.64. The stock should find initial support at its 50-day moving average (MA) of $113.62 and further support at its 200-day MA of $95.68.

Veeva Systems Inc. provides cloud-based business services. The Company offers enterprise applications, multichannel platform, customer relationship, and content management solutions. Veeva Systems serves customers in the United States.

Veeva Systems-A share prices have moved between a 52-week high of $128.82 and a 52-week low of $68.11 and are now trading 85% above that low price at $125.90 per share. Over the last five market days, the 200-day moving average (MA) has gone up 1.0% while the 50-day MA has advanced 2.4%.

SmarTrend is monitoring the recent change of momentum in Veeva Systems-A. Please refer to our Company Overview for the results of our proprietary technical indicators that have been scanning shares of Veeva Systems-A in search of a potential trend change.

Keywords: bearish inside day candle veeva systems-a

Ticker(s): VEEV