$VRTX with a neutral outlook following its earnings #Stocks The PEAD projected a neutral outlook following a negative under reaction after its earnings release placing the stock in drift D
If you would like to see the Drift for another stock please message us. Also click on the Like Button if this was useful and follow us or join us.
VX1 trade ideas
VRTX Beginning!Fundamental & Chart
Not for investment advice, personal notes only
Chart:
identified key area of support, concerning current H&S pattern, potential downside to next support indicate 17% drop. CMF shows weakness, spending a lot of times in the negatives.
So far trend line remains intact, neckline of H&S shows no particular bearish inclination
Fundamentals:
Core product in strong growth, In January 26, 2021, VRTX announced that it received FDA approval for the use of Trikafta with children ages 6-11 with CF and certain mutations.
In January 28, 2021, VRTX announced that it received FDA clearance for its type-1 diabetes investigational medicine and will enter the phase ½ clinical trial.
Powerful toppling and bottom line growth, Net income has grown 229% from 2019 to September 2020.
Currently seeking acquisition opportunities
Let's wait and see
(VRTX) Vertex - Upside potential ahead of Earnings releaseVertex is now at levels close to those of Dec'19. Meanwhile, revenues increased +60% QoQ for Q3 2020 and EPS increased + 20% (also QoQ for Q3 2020). Operational cashflows have improved as well. If expected annual earnings are confirmed, Vertex confirms its upside potential and has also a positive outlook ahead as a result of the current environment.
$VRTX - 1D TA - Potential ReversalVRTX gets getting beat down by earnings but if this support lines hold true this was reverse and has a huge gap to fill.
Keep in mind this in a Daily time frame and this will not happen over night (if it reverses).
PS> Cathy Wood continues to buy VRTX so something could be coming.
Do your own DD, this is not financial advice, only my idea.
VRTX Gap Fill Play - Bullish- Vertex Pharmaceuticals Incorporated engages in developing and commercializing therapies for treating cystic fibrosis.
- Target Price: $292.00 by CreditSuisse Oct 29, 2020 with multiple buy ratings by different analysts
- Recent Drop from failed study of VX-814 for patients with ALPHA-1 ANTITRYPSIN DEFICIENCY, but still one more study going in same target area and fundamentals of other revenue makers intact.
- Price entering the gap from that day's drop.
- Trends of more insider buying since the drop and stock buy backs. Signaling that the stock is undervalued.
- Bull flagging right under the gap.
Key Level: $232.41
Price Target: 269.93
ATR: $6.60
Play:
Bullish Gap Fill
Buy the Dip under the key level to scale in
Use $232.41 as inflection point.
Look for breakout with increased volume
Price Target: 270
Under $224 will invalidate
Pull Back/Bottom Fishing Rising Wedge/Head and Shoulders H&S with a bearishrising narrowing wedge = TROUBLE
Bad combo
OUCH!
From looking at monthly and weekly candles, looks like this one may pull back a bit more
NV is very high on this one. Short interest fairly low considering. I guess the shorties did not catch this pattern on time. Short interest was up 12% today
No recommendation/just an observation