Hi Everyone!
To me it looks like VEEV is in a long term ascending broadening wedge from the time that it entered the aggressive uptrend that it has been in since February of 2016. When researching an ascending broadening wedge, things eventually go south for the asset that is printing that pattern. I am not sure when this will eventually tank hard, but I have been trying to play this stock off of the bottom trend lines each time as a long and a short. It is hard telling how high the price will go on VEEV before we get a nice big correction beyond the trend line, but to me, it looks like it could eventually happen based upon the ascending broadening wedge pattern.
What do you think?
To me it looks like VEEV is in a long term ascending broadening wedge from the time that it entered the aggressive uptrend that it has been in since February of 2016. When researching an ascending broadening wedge, things eventually go south for the asset that is printing that pattern. I am not sure when this will eventually tank hard, but I have been trying to play this stock off of the bottom trend lines each time as a long and a short. It is hard telling how high the price will go on VEEV before we get a nice big correction beyond the trend line, but to me, it looks like it could eventually happen based upon the ascending broadening wedge pattern.
What do you think?
