After Yesterday's Rally of 3.12% Shares Could Potentially Pullback
Vertex Pharmaceuticals (NASDAQ:VRTX) traded in a range yesterday that spanned from a low of $85.92 to a high of $89.90. Yesterday, the shares gained 3.1%, which took the trading range above the 3-day high of $88.46 on volume of 546,000 shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.
SmarTrend recommended that its subscribers protect gains by selling shares of Vertex Pharmaceuticals on June 16th, 2016 by issuing a Downtrend alert when the shares were trading at $89.63. Since that call, shares of Vertex Pharmaceuticals have fallen 3.5%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.
Over the past year, Vertex Pharmaceuticals has traded in a range of $75.90 to $143.45 and is now at $89.43, 18% above that low. 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%.
Keywords: rebounders Vertex Pharmaceuticals