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Bullish Moving Average Cross by Vertex Pharmaceuticals (VRTX)

By Amy Schwartz

Today, shares of Vertex Pharmaceuticals (NASDAQ:VRTX) have crossed bullishly above their 10-day moving average of $124.32 on a volume of 265K shares. This may provide swing traders with an opportunity for a long position, as such a crossover often suggests higher prices in the near term.

Vertex Pharmaceuticals share prices have moved between a 52-week high of $143.45 and a 52-week low of $71.46 and are now trading 75% above that low price at $125.16 per share. Over the past week, the 200-day moving average (MA) has gone down 0.9% while the 50-day MA has declined 0.5%.

SmarTrend recommended that subscribers consider buying shares of Vertex Pharmaceuticals on January 6th, 2017 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $78.63. Since that recommendation, shares of Vertex Pharmaceuticals have risen 56.6%. We continue to monitor VRTX for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: moving crosses Vertex Pharmaceuticals

Ticker(s): VRTX