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SmarTrend Watching for Potential Pullback in Shares of Vertex Pharmaceuticals After 2.46% Gain

By James Quinn

Vertex Pharmaceuticals (NASDAQ:VRTX) traded in a range yesterday that spanned from a low of $81.73 to a high of $83.09. Yesterday, the shares gained 2.5%, which took the trading range above the 3-day high of $82.23 on volume of 493,000 shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.

Over the past year, Vertex Pharmaceuticals has traded in a range of $75.90 to $143.45 and is now at $82.14, 8% above that low. 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 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 17.0%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Keywords: rebounders Vertex Pharmaceuticals

Ticker(s): VRTX