VRTX trade ideas
VRTX - HOT! Buy the breakout with near SLSL @ 92.00/90
Moving turning UP, Breakout with long white marubozu,
VRTX - Chart looks good, but poor fundamentalsNot sure why Tradingview is not allowing me to put in all my comments. . .
Pullback
Status: Avoiding taking long
Point system: 1 = meets criteria, 0 = fails or not applicable
Total points: 6/10
Cost basis:
Stop:
First price target:
Technicals:
Horizontal S&R: 1
Channel S&R: 0
MA S&R: 1
Pearson's R >= 85: 1
Price within Fib Ret..62:1
Stochastic turn/crossover above 80%: 1
AO pullback >01:6: 1:5, 0
MA 200 resistance line became a support line.It seems that the pressure of EMA 200 proved to be stronger than the resistance of MA 200.
VRTX setting for move lowerAfter stock bounced from resistance that is intact since May 2013 and broke down upper level support @ $76 with strong follow through to November lows.
Now, it is flagging near lows in front of support. With weak Biotechnology sector and market sitting on resistance it could be start of another down leg.
Enter short @ $63.80
Stop above 21 MA @ $66.83
Target $58.07-$59.76 and then I expect potential break down and continuation move to low $50ish area.
