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SmarTrend Watching for Potential Pullback in Shares of Vertex Pharm After 1.04% Gain

By Shiri Gupta

Vertex Pharm (NASDAQ:VRTX) traded in a range yesterday that spanned from a low of $150.52 to a high of $153.39. Yesterday, the shares gained 1.0%, which took the trading range above the 3-day high of $151.73 on volume of 371,000 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, Vertex Pharm share prices have been bracketed by a low of $120.77 and a high of $178.25 and are now at $152.94, 27% above that low price. In the last five trading sessions, the 50-day moving average (MA) has fallen 0.4% while the 200-day MA has remained constant.

SmarTrend recommended that its subscribers protect gains by selling shares of Vertex Pharm on March 28th, 2018 by issuing a Downtrend alert when the shares were trading at $160.48. Since that call, shares of Vertex Pharm have fallen 5.9%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Keywords: rebounders vertex pharm

Ticker(s): VRTX