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Vertex Pharmaceuticals Rises 2.41% on Heavy Volume: Watch For Potential Pullback

By James Quinn

Vertex Pharmaceuticals (NASDAQ:VRTX) traded in a range yesterday that spanned from a low of $123.79 to a high of $126.37. Yesterday, the shares gained 2.4%, which took the trading range above the 3-day high of $125.80 on volume of 707,000 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 Pharmaceuticals share prices have been bracketed by a low of $71.46 and a high of $143.45 and are now at $126.30, 77% above that low price. 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: rebounders Vertex Pharmaceuticals

Ticker(s): VRTX