• Return to Headlines

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

By David Diaz

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 $172.82 and $172.82 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.

Over the past year, Veeva Systems-A has traded in a range of $73.47 to $176.90 and is now at $172.82, 135% above that low. Over the past week, the 200-day moving average (MA) has gone up 1.1% while the 50-day MA has advanced 1.6%.

Veeva Systems-A (NYSE:VEEV) is currently priced 58.5% above its average consensus analyst price target of $71.64. The stock should find initial support at its 50-day moving average (MA) of $157.96 and further support at its 200-day MA of $120.20.

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.

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 42.4%. We continue to monitor VEEV for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: bearish inside day candle veeva systems-a

Ticker(s): VEEV