Veritone Technical Analysis: Two Buy Factors Flash

Shares of Veritone Inc (VERI) have fallen from over $50.00/share to near $20.00/share. This solid decline has been the working-off of a very overbought condition. The Veriton technical analysis signals a strong buy between $20.00-$21.00. There are two major buy factors at this point. The daily 200 moving average and a major pivot high from 2020.

Technical traders understand that when you have two major support factors at the same point, the odds of a bounce are extremely high. This is a strong buy signal on Veritone. It is also just a swing trade and not a long-term entry. In other words, look for a strong bounce off this support, perhaps as high as $30.00/share.

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