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On Wednesday, Veeva Systems Cl A (VEEV) cleared a noteworthy technical benchmark, seeing its Relative Strength (RS) Rating jump into the 80-plus percentile with an improvement to 82, up from 77 the day before. This exclusive rating from Investor's Business Daily tracks price performance with a 1 (worst) to 99 (best) score. The rating shows how a stock's price movement over the trailing 52 weeks stacks up against all the other stocks in our database. Decades of market research shows that the stocks that go on to make the biggest gains tend to have an 80 or better RS Rating as they launch their biggest price moves. Veeva Systems Cl A broke out earlier, but has fallen back below the prior 296.72 entry from a flat base. In the scenario where a stock breaks out then falls 7% or more below the entry price, it's considered a failed breakout. If that happens, it's best to wait for a new pattern to take shape. Also understand that the latest consolidation is a later-stage base, and those involve more risk. The company showed 23% EPS growth in its most recent report. Revenue rose 17%. The company is expected to report its latest results on or around Nov. 20. The company earns the No. 2 rank among its peers in the Computer Software-Medical industry group. OptimizeRx (OPRX) is the No. 1-ranked stock within the group. This article was created automatically with Stats Perform's Wordsmith software using data and article templates supplied by Investor's Business Daily. An IBD journalist may have edited the article.
