Veeva Systems Inc. Stock Forecast
Explanation to Bollinger's Bands
Bollinger Bands was created by John Bollinger in the early 1980s, its purpose is to define price action relative to the assets highs and lows. This technical indicator is used to identify buy and sell signals and has proven very well in doing so.
Bollinger Bands consist of a set of three curves drawn in relation to securities prices. The middle band is a measure of the intermediate-term trend, usually a simple moving average, that serves as the base for the upper and lower bands. The interval between the upper and lower bands and the middle band is determined by volatility, typically the standard deviation of the same data that were used for the average. StockInvest.us uses Bollingers suggested 20 day average.
Middle Bollinger Band = 20-period simple moving average
Upper Bollinger Band = Middle Bollinger Band + 2 * 20-period standard deviation
Lower Bollinger Band = Middle Bollinger Band - 2 * 20-period standard deviation
BandWidth defines the current width of the band.
%b defines the current position within the band.
BandWidth = (Upper Bollinger Band - Lower Bollinger Band) / Middle Bollinger Band
%b = (Last - Lower Bollinger Band) / (Upper Bollinger Band - Lower Bollinger Band)
Live Samples:
Bottlenecks in bandwidth indicate an upcoming change. Break up through the moving average line or continuous movements above the moving average line indicate a break up, and vice versa.
Source: http://www.bollingerbands.com
Is Veeva Systems Inc. stock still a buy after falling -13.47% on Friday?
(Updated on May 31, 2024)
The Veeva Systems Inc. stock price fell by -13.47% on the last day (Friday, 31st May 2024) from 188.20€ to 162.85€. During the last trading day the stock fluctuated 2.01% from a day low at 161.55€ to a day high of 164.80€. The price has fallen in 6 of the last 10 days and is down by -15.51% for this period. Volume has increased on the last day by 124 shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 124 shares were bought and sold for approximately 20.19€ thousand.
The stock has broken the wide and falling short-term trend down. Firstly a stronger fallrate is indicated, but false breaks and "sell-off" may occur. However, a further fall is realistic and any reactions back to the breaking point (171.72€) are considered to be a "second chance" to get out. According to the fan-theory 148.72€ will represent the new bottom line of the next trend, but it is far too early to say this for certain.
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VEE.F Signals & Forecast
There are few to no technical positive signals at the moment. The Veeva Systems Inc. stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at 184.50€ and 188.74€. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Tuesday, May 21, 2024, and so far it has fallen -16.40%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Veeva Systems Inc. gained volume on the last day, but on falling prices. In technical terms, this is called divergence and may be an early warning. In some cases, increasing volume on falling prices may be considered positive, but that is mainly in typical "sell-offs". The very low volume increases the risk and reduces the other technical signals issued.
Support, Risk & Stop-loss for Veeva Systems Inc. stock
There is no support from accumulated volume below today's level and given the right condition the stock may perform very badly in the next couple of days.
In general the stock tends to have very controlled movements and with good liquidity the risk is considered very low in this stock. During the last day, the stock moved 3.25€ between high and low, or 2.01%. For the last week the stock has had daily average volatility of 0.402%.
Veeva Systems Inc. is oversold on RSI14 (21). Some stocks may drop long and hard while being oversold on RSI before turning, which increases the general risk.
Our recommended stop-loss: 154.35€ (-5.22%) (This stock has low daily movements and this gives low risk. Low RSI14 is 21 which reduces the risk some. There is a sell signal from a pivot top found 25 days ago.)
Trading Expectations (VEE.F) For The Upcoming Trading Day Of Monday 3rd
For the upcoming trading day on Monday, 3rd we expect Veeva Systems Inc. to open at 163.07€, and during the day (based on 14 day Average True Range), to move between 159.27€ and 166.43€, which gives a possible trading interval of +/-3.58€ (+/-2.20%) up or down from last closing price. If Veeva Systems Inc. takes out the full calculated possible swing range there will be an estimated 4.39% move between the lowest and the highest trading price during the day.
With no support below and resistance from accumulated volume @ 184.15€, some 21.30€ (13.08%) from the current price of 162.85€, our system finds the risk reward not very attractive.
Is Veeva Systems Inc. stock A Buy?
Veeva Systems Inc. holds several negative signals and this should be a sell candidate, but due to the general chance for a turnaround situation it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Hold/Accumulate candidate.
Current score: 0.000 Hold/Accumulate Upgraded
Zero in score indicates that our system is expecting high volatility and risk for the following trading day. Given the latest developments, we cannot determine the next direction as it may go both ways.
Predicted Opening Price for Veeva Systems Inc. of Monday, June 3, 2024
Fair opening price June 3, 2024 | Current price |
---|---|
163.07€ ( 0.133%) | 162.85€ |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for VEE.F
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 166.32 | 2.13 % | |
R2 | 165.08 | 1.37 % | ||
R1 | 164.31 | 0.90 % | ||
Current price: | 162.85 | |||
Support | S1 | 161.83 | -0.629 % | |
S2 | 161.06 | -1.10 % | ||
S3 | 159.82 | -1.86 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 201.70 | 23.86 % | |
R2 | 188.05 | 15.47 % | ||
R1 | 184.15 | 13.08 % | ||
Current price | 162.85 | |||
Support | S1 | 0 | . | |
S2 | 0 | . | ||
S3 | 0 | . |
FAQ
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