Cloud-based software firm Veeva Systems ( VEEV) gapped sharply higher last week to generate a number of bullish technical signals. Let's check the charts and indicators to arrive at a strategy. 
In the daily bar chart of VEEV, below, I can see the price gap noted above. The shares jumped above the 50-day and the 200-day moving average lines. Prices finished the day closing above the April highs.
The trading volume exploded higher and the On-Balance-Volume (OBV) line turned upwards. The Moving Average Convergence Divergence (MACD) oscillator crossed to the upside and is ready to move above the zero line.
In the weekly Japanese candlestick chart of VEEV, below, I can see that the shares has been working on a bottom formation for the past year. Declines to the $165-$150 area and looks like they have been bought. I see a large number of lower shadows below $165.
The weekly OBV line shows improvement from December. The MACD oscillator is edging above the zero line for an outright buy signal. Prices are trading above the bottoming 40-week moving average line.
In this daily Point and Figure chart of VEEV, below, I can see the upside move with no price gap. Here the software projects a potential price target in the $277 area.
In this weekly Point and Figure chart of VEEV, below, I see the same potential price target of $277.
Bottom-line strategy: I am anticipating that VEEV will trade sideways in the $190-$200 area for a few days. Traders could use this sideways period to probe the long side of VEEV on available weakness. Risk to $185. The $277 area is our price target.
