Why I will be careful about any long position in $VEEV?

VEEV has robust earnings growth. But the chart is not looking strong. Its industry is also pretty weak.

1) Weekly displayed bearish Headwind.

2) Since then the weekly Backdrop color has remained magenta, bearish. This week, the candle is breaking below Memory trendline support.

3) In the daily, price bounced up from Memory trendline at earnings. 

4) Right after that, the daily Flow color turned bearish and the price fell with Heavy Bearish Pressure (seen from the band indicator).

5) Today, 3rd Sep, price is falling as of 10 AM EST. If the daily Memory support is broken, long position holders may decide to exit position. Short traders may look for low-risk entry opportunity.

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1) Today, Monday 9th Sep, VEEV is breaking below the Memory support trendline in the daily chart (snapshot as of ~10:05 AM EST).

Based on my earlier cautionary analysis on 3rd Sep, you might be already ready with an exit plan for any current VEEV long position. It may be the time to execute that plan now.
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