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Bearish Moving Average Cross by Vertex Pharmaceuticals (VRTX)

By Nick Russo

Today, shares of Vertex Pharmaceuticals (NASDAQ:VRTX) have crossed bearishly below their 10-day moving average of $82.31 on a volume of 198K shares. This may provide swing traders with an opportunity for a short position, as such a crossover often suggests lower prices in the near term.

In the past 52 weeks, Vertex Pharmaceuticals share prices have been bracketed by a low of $75.90 and a high of $143.45 and are now at $81.41, 7% above that low price. In the last five trading sessions, the 50-day moving average (MA) has fallen 0.5% while the 200-day MA has slid 0.9%.

SmarTrend recommended that its subscribers protect gains by selling shares of Vertex Pharmaceuticals on August 25th, 2016 by issuing a Downtrend alert when the shares were trading at $97.01. Since that call, shares of Vertex Pharmaceuticals have fallen 14.5%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Keywords: moving crosses Vertex Pharmaceuticals

Ticker(s): VRTX