VRTX – Vertex Pharmaceuticals Inc. [Health Care, Biotechnology]
Context Technical Analysis
In mid-October VRTX moved above its 10- 20- and 50-day exponential moving averages.
The stock is currently moving in a bullish channel between its 10-day exponential moving average and the upper Bollinger Band.
The stock’s 20- and 50-day exponential moving averages follow below the 10-day exponential moving average, a sign of a strong uptrend
MACD moved above its signal line in mid-October and it’s moving up since then
VRTX’s Relative Strength is moving mostly up and above its 20-day exponential moving average since mid-October
The general MSI is 100
Higher Time Frame
Since August 2018 VRTX was moving in a trendless range – the blue box.
In mid-October the price behavior changed and a strong uptrend has developed.
1. VRTX moves on its rising upper Bollinger Band.
2. A series of bullish candlesticks is an additional bullish sign.
3. The MACD is in positive territory and above its signal line
In addition, the stock’s weekly Relative Strength is moving up and above its 20-day exponential moving average
We can buy this stock when the price goes above 222
Suggested Stop Loss
Sell this stock when price falls below 216