Moving Average Crossing Alert: Veeva Systems (VEEV)


Veeva Systems Inc. VEEV seems like an interesting choice from a technical standpoint, as the company sees favorable trends on the moving average crossover front. Recently, the 50-day moving average for VEEV broke the 200-day simple moving average, suggesting a short-term uptrend.

This has already started to happen, as the stock has risen 7.2% in the past four weeks. Additionally, the company currently has a Zacks Rank # 2 (Buy) suggesting that the time could definitely be right for this breakout candidate.

More optimism may be particularly the case when investors consider what has happened to VEEV on the front of revised earnings estimates in recent times. No estimate has fallen in the past two months, down from 10 more, while the consensus estimate has also risen.

So, given this shift in estimates and positive technical factors, investors may want to keep a close watch on this breakout candidate for more gains in the near future. You can see The full list of Zacks # 1 Rank (Strong Buy) stocks today here.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.


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