VRTXWe see this pullback as a good short-term trade opportunity. That said, the options on this name are both not very liquid and most have open interest levels below 100. We tend to avoid options where there are wide bid/ask spreads (even when we can get the option in the midpoint) and when open interest for any strike price is below 100 contracts. This is one to watch.
VX1 trade ideas
Stock to buy VRTX: Target +35%Vertex stock is still actionable as it rebounds from the 10-week line. It has also blasted back above an alternative entry of 279.23.
The relative strength line has been spiking higher even as VRTX stock and the broader market struggled. The stock has retaken its 50-day moving average, an encouraging sign.
VRTX stock has soared more than 32% higher so far in 2022. This is especially impressive considering the broader market action.
Vertex is also highly profitable. As a result, VRTX stock has an EPS Rating of 99 out of a best-possible 99.
Earnings have grown by an average of 690% over the past three quarters. This easily beats CAN SLIM requirements.
$VRTX showing multiple signs of continuation!Notes:
* Very strong up trend on all time frames
* Great earnings track record since 2017
* Breaking out of a ~4 month base with higher than average volume
* Printed a pocket pivot
* And offering an early entry relative to its 50 day line
* Breaking above a historical resistance of $290.48 with volume once again (Third time's the lucky charm? ;))
* Formed a relatively flat handle to the double bottom
* Offering a low risk entry
Technicals:
Sector: Healthcare - Biotechnology
Relative Strength vs. Sector: 1.32
Relative Strength vs. SP500: 1.16
U/D Ratio: 1.97
Base Depth: 24.6%
Distance from breakout buy point: 0.03%
Volume 8.7% above its 15 day avg.
Trade Idea:
* You can enter now as it's just breaking out of its double bottom base with higher than average volume and it printed a pocket pivot
* If you're looking for a better entry you can look for one around the 290.5 area as that should hold as support
* One thing to keep in mind is that there are two more historical areas of resistance that will come in the way before we hit the target
* Look for confirming price action around those levels before adding to the position
* Or, if we see lots of rejection around those levels, consider exiting the position earlier
* This stock usually has local tops when the price closes around 11.93% above its 50 EMA
* Consider selling into strength if the price closes 11.73% to 12.13% (or higher) above its 50 EMA
* The last closing price is 6.9% away from its 50 EMA
Relative Strength in Biotech - VRTX(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.
Is Vertex Pharmaceuticals a $500 Stock?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
Happy trading.
VRTX Pop to the UpsideVRTX 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 - Looking strong for 2022 (Weekly)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.
VRTX Long Chance on ChannelNASDAQ: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 2008
good position in the market
good cashflow for the next years, even if products are failing
LongAt 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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