Veeva Systems has been chopping higher since the spring. Now it may be offering an entry for dip buyers.
The first pattern on today’s chart is the rally after earnings and revenue beat consensus on August 30. VEEV is trying to stabilize at a 50 percent retracement of the move. If it succeeds, it could suggest an uptrend is in effect.
Second, the current price range is near the mid-July high. Will old resistance become new support?
Third, the software stock is attempting to hold its 21-day exponential moving average.
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