Veeva Systems Inc. (NYSE:VEEV) fell by -5.88% during last session from $63.65 to $59.91 The stock price went upward in 6 of the last 10 days , but has retreated -4.13% over the same course of time. Volume has increased during last session by 0.55 million shares, but on a weak note. This is may be an early warning and the risk will be increased slightly for the next couple of days. In total, 1.56 M shares exchanged hands for about $93.50 million.
Inside VEEV’s Recent Trend
Veeva Systems Inc. (VEEV) has broken the wide and weak rising short-term trend down. This signalize a slower rising rate, but may also be an early warning about a possible trend shift. Due to trend being broken there will now be resistance at the bottom line of the trend at $60.18. A reaction back to this level may hold a second chance to get out before further falls.
Veeva Systems Inc. Technical Signals
VEEV has witnessed its long term and short term MA triggering a sell signal. Many traders watch for long-term averages to cross above short-term averages to signal the beginning of a downtrend. Upon corrections, the price will meet resistance from the averages between $62.30 and $62.83. A buy signal will be generated if it crosses above any of these levels. Its pivot point high generated sell signal on Wednesday August 09, 2017, which calls for additional declines until the stock forms a new pivot point low, as this could be a buying opportunity. Volume up and price depreciating is getting our attention as this movement is seen as bearish sign.
Veeva Systems Inc. (NYSE:VEEV) Support And Resistance Levels
Veeva Systems Inc. (VEEV) recorded volume accumulation so there will probably be a surplus of buyers at $59.58. In case of gains, the next resistance from accumulated volume will be at $63.54, $64.90 and $66.82.
Veeva Systems Inc. (VEEV) Risk Assessment
The number of shares changed hands in the stock is good, indicating the interest and low risk associated with it. In the most recent session, the stock price hovered around $3.53 (5.90%) between intraday high and intraday low. Each day in the past 1 week, the average volatility remained at 2.83%.