From a technical perspective, Veeva Systems (VEEV - Free Report) is looking like an interesting pick, as it just reached a key level of support. VEEV recently overtook the 20-day moving average, and this suggests a short-term bullish trend.
The 20-day simple moving average is a popular trading tool. It provides a look back at a stock's price over a 20-day period, and is beneficial to short-term traders since it smooths out price fluctuations and provides more trend reversal signals than longer-term moving averages.
Similar to other SMAs, if a stock's price moves above the 20-day, the trend is considered positive, while price falling below the moving average can signal a downward trend.
Shares of VEEV have been moving higher over the past four weeks, up 5.2%. Plus, the company is currently a Zacks Rank #3 (Hold) stock, suggesting that VEEV could be poised for a continued surge.
The bullish case solidifies once investors consider VEEV's positive earnings estimate revisions. No estimate has gone lower in the past two months for the current fiscal year, compared to 13 higher, while the consensus estimate has increased too.
Investors should think about putting VEEV on their watchlist given the ultra-important technical indicator and positive move in earnings estimate revisions.
7 Best Stocks for the Next 30 Days
Just released: Experts distill 7 elite stocks from the current list of 220 Zacks Rank #1 Strong Buys. They deem these tickers "Most Likely for Early Price Pops."
Since 1988, the full list has beaten the market more than 2X over with an average gain of +24.2% per year. So be sure to give these hand picked 7 your immediate attention.
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From a technical perspective, Veeva Systems (VEEV - Free Report) is looking like an interesting pick, as it just reached a key level of support. VEEV recently overtook the 20-day moving average, and this suggests a short-term bullish trend.
The 20-day simple moving average is a popular trading tool. It provides a look back at a stock's price over a 20-day period, and is beneficial to short-term traders since it smooths out price fluctuations and provides more trend reversal signals than longer-term moving averages.
Similar to other SMAs, if a stock's price moves above the 20-day, the trend is considered positive, while price falling below the moving average can signal a downward trend.
Shares of VEEV have been moving higher over the past four weeks, up 5.2%. Plus, the company is currently a Zacks Rank #3 (Hold) stock, suggesting that VEEV could be poised for a continued surge.
The bullish case solidifies once investors consider VEEV's positive earnings estimate revisions. No estimate has gone lower in the past two months for the current fiscal year, compared to 13 higher, while the consensus estimate has increased too.
Investors should think about putting VEEV on their watchlist given the ultra-important technical indicator and positive move in earnings estimate revisions.
7 Best Stocks for the Next 30 Days
Just released: Experts distill 7 elite stocks from the current list of 220 Zacks Rank #1 Strong Buys. They deem these tickers "Most Likely for Early Price Pops."
Since 1988, the full list has beaten the market more than 2X over with an average gain of +24.2% per year. So be sure to give these hand picked 7 your immediate attention.
See them now >>
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