VEE trade ideas
VEEV - Watching for Short opportunity Very weak sector, & we are in top of a rising sedge system. Money flow is showing strong divergence, It has huge downward potential if it breaks down.
You can check our detailed analysis on VEEV in the trading room/ Executive summery link here-
www.screencast.com
Time Span: 20:30”
Trade Suggestion Date: Aug 26th
Trade Status: Pending/Watchlist
Breaking above resistance but more on the way...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. However, given the major rejection of this trend line back on the week of 3/6, it will be challenging for VEEV to muster the momentum needed to climb/close above it.
VEEV was one of the top 3 "Gainers on Volume" from ChartYourTrade.com's Universe List today. Our Universe List scans for the top growth stocks in the market based on a plethora of fundamental criteria. The top growth stocks which make gains on heavy volume are showing institutional activity and we therefore keep these on a special watch list to and wait for them to setup.
To view the rest of today's top "Gainers on Volume" click here: chartyourtrade.com
