VEEV - Long term looks good!

VEEV - Long term looks good!

Wider View
- Post COVID run built towards a distribution range between 260 and 330
- With the rate hikes, VEEV went on a sell down but has since been on an accumulation phase from 2022 until now
- And we are now at another possible attempt to break out the accumulation range
- Upside could be movement up to previous range again or up to 290 (middle of range)

Bullish View
- Price action moves in distribution and accumulation so it is enough for me to be bullish on VEEV long term
- Healthcare is rate sensitive so possibly break out of accumulation during rate cut periods
- Price action is now also in the upper range (above 193) which is also above MA50 on weekly chart (This all is telling)

Bearish View
- Stays within the range between 164 and 220 longer

My plays
- Continued accumulation of shares above 193 (Disclaimer - My cost base now is 170)
- Sold puts and will accumulate more puts if pullbacks to 193

Good luck, all!