VEEV Forms Deep Base in Stage 2 Uptrend, Awaiting Breakout

Posted on by Eben@CANSLIM Research
VEEV daily stock chart with 10, 20, 50, 150 and 200-day moving averages, volume and RS line versus SPY — CANSLIM Research

VEEV is holding above its rising 30-week moving average, keeping the long-term uptrend intact despite a 50.5% deep base that has developed over 44 weeks. The market is focused on the faulty base pattern, which carries an elevated failure rate, but the constructive sentiment and recent bull-flag action suggest buyers are still in control. With price 20% off its high and no confirmed breakout, traders await a decisive move above the 306.22 pivot.

As of 2026-08-25 · Close $244.51

Stage 2 (Advancing) — Price holding above a rising 30-week MA — uptrend intact (30-week MA 6-week slope: 1.15%)

⚠️ Faulty cup warning: the base is 50.5% deep (above the 38–40% threshold). A correction this deep leaves heavy overhead supply — trapped holders from higher prices are likely to sell into any rally, raising the failure rate of a breakout from this base.

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