Using a tight stop here with a wide target due to extended nature of this last impulse up and the fact that we're almost perfectly at the 1.618 extension of the last swing high -> swing low.
You can tighten your stop to directly above the highest wick of this impulse as well if you want to increase the Reward:Risk Ratio.
The other thing to watch is the...
Entry level $179 = Target price $190 = Stop loss $174
Momentum and RSi are extremely strong.
Above $178 bullish trade entry having cleared MA resistance.
Earnings approaching, possible stimulant.
Vertex initiated at BofA/Merrill Vertex reinstated with a Buy at BofA/Merrill. BofA/Merrill analyst Geoff Meacham reinstated coverage of Vertex with a Buy rating...
This is not a name we are overly familiar with but in the past few weeks, we have noticed numerous upgrades and some large funds increasing exposure in the name. Finally higher than normal option activity was spotted on Friday with a significant upside return on the strike price. Like all Pharma stocks good news can be very good for the stock price, so keep watch....
NASDAQ:VRTX Sell short below yesterday's low. see my notes on the chart.
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Please note that this information is not a recommendation to buy or sell. It is to be used for educational purposes only.
$VRTX Overbought - beginning to retrace today closing well below yesterday's low, confirming bearish shooting star reversal candle from yesterday. Will be looking for additional 8-10% downside from today's close to the area of the 200d ema near term. (More downside possible depending on outcome of Feb ER)
Target: $170-$175 range by mid February
Also of note, in...
Vertex has consolidating the price in a bullish wedge. A key resistence zone is at 178.57, a break out of such edge is interesting because it might pull up the price toward new high records. Stock is under the radar
$VRTX Vertex looking over-extended, reversing off the long term upper channel limit. Barring an earnings home run next week, expecting further price correction in the coming weeks and months.
Medium term target: $163.50
Long term target: $153.50 (lower channel support)
Earnings next week, 7/25
Note: Observation/opinion, not investment advice.
After the sell off in June the stock crossed into the oversold territory and is trying to reverse the trend upwards. The second long signal is the breaking above the downward resistance line, if it continues in the current course and breaks above 200MA this will signal a strong reversal.
VRTX looks good. not only is there an inverse H&S there is a zig zag up. Looking for a $177 target. Will probably look at the april options at the money call. look to enter with a limit order of $7.00 at a strike $170 with expiry of 13 April 2018.
![VRTX: [VRTX] phase 2](https://s3.tradingview.com/8/85wxO2pO_mid.png "[VRTX] phase 2")
