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Veeva Systems (VEEV) Just Flashed Golden Cross Signal: Do You Buy?
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Veeva Systems (VEEV - Free Report) reached a significant support level, and could be a good pick for investors from a technical perspective. Recently, VEEV broke through the 20-day moving average, which suggests a short-term bullish trend.
The 20-day simple moving average is a popular investing tool. Traders like this SMA because it offers a look back at a stock's price over a shorter period and helps smooth out price fluctuations. The 20-day can also show 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.
VEEV has rallied 7.8% over the past four weeks, and the company is a Zacks Rank #3 (Hold) at the moment. This combination suggests VEEV could be on the verge of another move higher.
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 10 higher, while the consensus estimate has increased too.
Given this move in earnings estimate revisions and the positive technical factor, investors may want to keep their eye on VEEV for more gains in the near future.
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Veeva Systems (VEEV) Just Flashed Golden Cross Signal: Do You Buy?
Veeva Systems (VEEV - Free Report) reached a significant support level, and could be a good pick for investors from a technical perspective. Recently, VEEV broke through the 20-day moving average, which suggests a short-term bullish trend.
The 20-day simple moving average is a popular investing tool. Traders like this SMA because it offers a look back at a stock's price over a shorter period and helps smooth out price fluctuations. The 20-day can also show 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.
VEEV has rallied 7.8% over the past four weeks, and the company is a Zacks Rank #3 (Hold) at the moment. This combination suggests VEEV could be on the verge of another move higher.
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 10 higher, while the consensus estimate has increased too.
Given this move in earnings estimate revisions and the positive technical factor, investors may want to keep their eye on VEEV for more gains in the near future.