Vertex Pharmaceuticals ticker symbol VRTX is in a serious uptrend. If price break above the next resistance zone around $315 before the next earnings we could see a steep rise in price.
Vertex is the stock I will watching closely next week. I am going long at market prices above 283 stopout at redline 264
(2/5) To highlight my point in the previous $VIVO post, here are 5 other charts in the Biotech sector that have shown relative strength lately. Don't get me wrong, the market is still on a downtrend, but should we reverse and start a new uptrend, this sector may potentially be the next one to lead a new bull market.
Based on it's uptrend, rebound from support and a familiar chart pattern confirmed by my technical indicators, I expect at least half a percent of profits IF $VRTX exceeds today's high of $271.25 during tomorrow's session.
We made it to 240 a share. Next resistance around 256, Once we trade up to 256 then VRTX will retest ATH around 307. Buying volume at good levels, Strong earnings, Monthly MACD showing SERIOUS positive momentum, I'm Riding this trade until I see new ATH's for Vertex!
VRTX a great long setup presenting itself. VRTX broke out of descending triangle pattern with volume to the upside, MACD about to cross above zero signaling a big shift in momentum on the weekly timeframe. VRTX looks good to go long on here, I see it grinding up in price at a moderate rate for the next year maybe year and a half. 240 dollars a share soon.
VRTX seems to be strengthening after being weak for awhile. Strong move above weekly 200ma on good volume.
I will buy the jan 2023 300/330c spread, and sell the jan 2023 150/140p spread for hopefully no more than .50
Maybe do some shorter OTM term put spreads against it, as well along the way.
NASDAQ:VRTX had an ongoing negative Trend since July 2020. It broke the negative Trend 2 days ago.
For me its a very good chance and low price for VRTX.
strong up move with good volume crossing the negative trend
crossed EMA200 and MA200 on daily chart and also on weeky chart
still above EMA200 and MA200 on monthly chart
still in positive trend since...
At the close of the GAP. The movement is good. Upside +10%. If there will be a good consolidation - we can look even higher.
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