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After Yesterday's Rally of 1.11% Shares Could Potentially Pullback

By David Diaz

Vertex Pharmaceuticals (NASDAQ:VRTX) traded in a range yesterday that spanned from a low of $118.05 to a high of $120.82. Yesterday, the shares gained 1.1%, which took the trading range above the 3-day high of $119.42 on volume of 791,000 shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.

In the past 52 weeks, shares of Vertex Pharmaceuticals have traded between a low of $71.46 and a high of $143.45 and are now at $119.85, which is 68% above that low price. The 200-day and 50-day moving averages have moved 0.92% lower and 0.46% lower over the past week, respectively.

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 50.8%. We continue to monitor VRTX for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: rebounders Vertex Pharmaceuticals

Ticker(s): VRTX