Pattern play Veeva Systems
Bullish breakout from a descending wedge pattern.
Share this:
Veeva Systems (VEEV), a supplier of vertical software solutions, broke out to the upside of an intermediate-term falling wedge pattern that began to form in late-October. The RSI is just above 50. The simple moving averages (SMAs) are arranged in a mixed to bullish manner, with the 50-day SMA above the 20-day SMA and the 20-day SMA above the 200-day SMA. If the 20-day SMA crosses to the upside of the 50-day SMA, it would be a bullish signal. If price can manage to hold above the upper trendline of the falling wedge pattern then price will likely advance towards 295.00. If price can get above 295.00 it would probably try to retest the record high of 314.00. If price can break through 314.00, it could potentially continue to run. On the other hand, if price falls below the upper trendline of the pattern, then traders should look to 257.00 for support. If price fails to hold at 257.00, it would be a bearish signal that could hint at a drop back to 240.00.
Source: GAIN Capital, TradingView
Source: GAIN Capital, TradingView
Veeva Systems (VEEV), a supplier of vertical software solutions, broke out to the upside of an intermediate-term falling wedge pattern that began to form in late-October. The RSI is just above 50. The simple moving averages (SMAs) are arranged in a mixed to bullish manner, with the 50-day SMA above the 20-day SMA and the 20-day SMA above the 200-day SMA. If the 20-day SMA crosses to the upside of the 50-day SMA, it would be a bullish signal. If price can manage to hold above the upper trendline of the falling wedge pattern then price will likely advance towards 295.00. If price can get above 295.00 it would probably try to retest the record high of 314.00. If price can break through 314.00, it could potentially continue to run. On the other hand, if price falls below the upper trendline of the pattern, then traders should look to 257.00 for support. If price fails to hold at 257.00, it would be a bearish signal that could hint at a drop back to 240.00.
Source: GAIN Capital, TradingView
Source: GAIN Capital, TradingView
Related tags:
Latest market news
The complete CFD trading experience
Award-winning platforms, competitive spreads, low commissions and dedicated support.
We live and breathe the markets and are dedicated to helping traders realise their ambitions as we continue to set the industry bar.
Economic calendar
Web Trader platform
Our sophisticated web-based platform is packed with features.
Related articles
S&P 500, Nasdaq, Dow Forecast: Wall Street Split Widens Into Month-End 9 26 2026
Nasdaq strength contrasts with mounting Dow pressure as rising Treasury yields raise the stakes for stocks heading into the monthly close.
EUR/USD Q4 2026 Outlook: Euro at a Crossroads as Fed, ECB Tighten 9 25 2026
EUR/USD enters Q4 at a pivotal inflection point as competing Fed-ECB policy paths and persistent inflation risks collide with major technical support.
USD/JPY Q4 2026 Outlook: Hawkish Fed Pricing Clashes With Intervention Risk
The year-end tug-of-war is clear: hawkish Fed pricing supports USD/JPY, while intervention risk limits the upside.
StoneX Europe Ltd may make third party material available on this website which may contain information included but not limited to the conditions of financial markets. The material is for information purposes only and does not contain, and should not be construed as containing, investment advice and/or investment recommendation and/or an investment research and/or an offer of or solicitation for any transactions in financial instruments; any decision to enter into a specific transaction shall be made by the client following an assessment by him/her of their situation.
StoneX Europe Ltd makes no representation or warranty and assumes no liability as to the accuracy or completeness of the information provided, nor any loss arising from any investment based on a recommendation, forecast or other information supplied. You should always seek independent advice as to your suitability to speculate in any related markets and your ability to assume the associated risks, if you are at all unsure. We are not under any obligation to update any such material. Any opinion made may be personal to the author and may not reflect the opinion of StoneX Europe Ltd.