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Shares of Veeva Systems-A Rise Above Previous 52-Week High

By Nick Russo

Veeva Systems-A (NYSE:VEEV) traded today at a new 52-week high of $107.11. Approximately 161,000 shares have changed hands today, as compared to an average 30-day volume of 1.2 million shares.

Veeva Systems-A (NYSE:VEEV) defies analysts with a current price ($106.82) 32.9% above its average consensus price target of $71.64. The stock should discover initial support at its 50-day moving average (MA) of $87.48 and subsequent support at its 200-day MA of $73.15.

In the past 52 weeks, shares of Veeva Systems-A have traded between a low of $52.17 and a high of $107.11 and are now at $106.82, which is 105% above that low price. Over the last five market days, the 200-day moving average (MA) has gone up 0.8% while the 50-day MA has advanced 1.8%.

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 August 8th, 2018 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $81.60. Since that recommendation, shares of Veeva Systems-A have risen 28.2%. We continue to monitor VEEV for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: 52 week high/lows veeva systems-a

Ticker(s): VEEV