VEEV broke and closed above resistance at 28.05 today on heavy volume (see daily chart). We can anticipate additional resistance around the $29 level due to the long-term descending trend line resistance started back in December 2013 (see weekly chart). If VEEV can close above this descending trend line it may mark the beginning of a fresh uptrend for the stock....
The steep fall of the past week had reasons. That's why I consider the rally of today as profit taking. Thus the downtrend should resume.
VEEV expected to open at 26.20 for a Gap N Go. To learn to trade this strategy for free go to www.RealLifeTrading.com
SEEMS 40 BOUND. MAC D CROSS OFF THE LOWS. ABOVE AVG VOLUME. CROSS&HOLD OF THE 20D.
Possible upside potential from today's breakout.
Was watching this yesterday AM near the lows at 35 thinking to bottom pick and then I got distracted. Put in a solid bounce and I missed 4 bucks of upside. Too bad so sad. However if it shows further strength and takes out 39.66 it could go to 40-42 in my opinion.