VEEA Technical Analysis - VEEA INC

Technical Rating and Analysis

We assign a technical rating of 2 out of 10 to VEEA. VEEA's overall performance in the market is below average. Also recent evolutions are not that positive. Both the medium and short term picture give negative signs.

The short term trend is negative, as is the long term trend. There should be more interesting stocks out there.

99% of all other stocks performed better in the past year than VEEA.

VEEA is one of the lesser performing stocks in the Software industry. 89% of 285 stocks in the same industry do better.

VEEA is currently trading near the lower end of its 52 week range, which is not a good sign. Certainly not because the S&P500 Index is trading near new 52 week highs at the moment.

In the last month VEEA has a been trading in the 0.60 - 0.93 range, which is quite wide. It is currently trading near the lows of this range.

Prices have been falling strongly lately, it is better to avoid new long positions here.

Considerably lower volume is observed in the last couple of days.

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Technical Analysis

Relative Strength

ChartMill Trend Indicator

Simple Moving Average

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Weekly and Daily overview Charts

Setup Rating and Analysis

Although the technical rating is bad, VEEA does present a nice setup opportunity. Prices have been consolidating lately and the volatility has been reduced. There is very little resistance above the current price. There is a support zone below the current price at 0.67, a Stop Loss order could be placed below this zone.

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ChartMill Technical Ratings

Pocket Pivots

Bull Flags

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Support and Resistance Analysis

0.53

0.84

When analyzing the support we can see 2 important areas.

A support zone ranging from 0.65 to 0.67. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
Support @0.54 from a horizontal line in the daily time frame.

When analyzing the resistance we notice 2 important areas.

Resistance @0.73 from a trend line in the weekly time frame.
Resistance @0.83 from a trend line in the daily time frame.

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Technical Indicator Signal Analysis

The Technical Rating and Setup analysis above combine different indicators and trends in different timeframes. Individual signals from indicators may give more contradictive signals and should always be interpreted in the more global context.

Indicator	Value	Signal	Comment
ChartMill Long Term Trend Indicator	DOWN	NEGATIVE	The long term trend for VEEA is down.
ChartMill Short Term Trend Indicator	DOWN	NEGATIVE	The short term trend for VEEA is down.
ChartMill Relative Strength	1.1	NEGATIVE	VEEA has a low relative strength, it was outperformed by 98.9% off all stocks on the market.
Simple Moving Average/SMA (20)	UP	MIXED	The current price of VEEA is below the rising SMA(20).
Simple Moving Average/SMA (50)	UP	POSITIVE	The current price of VEEA is above the rising SMA(50).
Simple Moving Average/SMA (200)	DOWN	NEGATIVE	The current price of VEEA is below a declining SMA(200).
Relative Strength Index/RSI (14)	45.21	NEUTRAL	The RSI value for VEEA is a neutral value.
Moving Average Convergence Divergence/MACD (12, 26, 9)	-0.01	NEGATIVE	The MACD value suggests VEEA has a negative trend.
Stochastics (14,3)	8.4	OVERSOLD	The low Stochastics value suggests VEEA may be oversold.
Average True Range in percent/ATR (20)	13.71	HIGH VOLATILITY	The high ATR as a percentage value for VEEA suggests high volalility.
Average Directional Index/ADX (14)	22	NEUTRAL	The ADX value for VEEA suggests a possible start of a new trend.