VEEV - waiting on indicator confluence to short

Hello!

I was introduced to this stock by my father, and wow, it is a great one to trade!

I am personally waiting for the MACD to cross bearish on the daily chart to consider opening a short position.

I am also going to let the moving averages signal a dump as well.

We are already starting to kind of bearishly diverge on the RSI on the Daily chart, where it has definitely been happening on the 240 chart.

I am likely going to try and short it to the .618, maybe down to the trend line or further depending on what happens. Just move your stops accordingly. Always use a stop!

Anyway, is anyone else out there seeing the same things and considering a short once certain conditions are met?

Thanks!

Trade active

I personally opened my short recently.

Note

Sry, better view of the R/R and trade setup. I am going to be strategic with my stop on this one and walk it down as the trade progresses.

Note

I think it may develop a Head and Shoulder after this is all said and done.

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Earning report released yesterday, False break-out today with a big rejection candle. Things are looking nice. I did some further charting, and it looks to me like VEEV is in an ascending broadening channel. We've already done a 3.618 "off the bottom" if you know what I mean.

Dawnchorus

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Dawnchorus