Technical Breakout Setups. Analyze the stocks with the best technicals forming a breakout setup pattern at the moment.


VERTEX PHARMACEUTICALS INC

289.54   -3.26 (-1.11%)

Nasdaq / Health Care / Biotechnology

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Technical Rating

8

Overall VRTX gets a technical rating of 8 out of 10. This is due to a consistent performance in both the short and longer term time frames. Also compared to the overall market, VRTX is showing a nice and steady performance.



The long and short term trends are both positive. This is looking good!
When comparing the yearly performance of all stocks, we notice that VRTX is one of the better performing stocks in the market, outperforming 97% of all stocks. On top of that, VRTX also shows a nice and consistent pattern of rising prices.
VRTX is part of the Biotechnology industry. There are 633 other stocks in this industry. VRTX outperforms 93% of them.
VRTX is currently trading in the upper part of its 52 week range, while the S&P500 Index is trading in the lower part of its yearly range. So VRTX is doing quite good in this market.
In the last month VRTX has a been trading in the 276.57 - 296.14 range, which is quite wide. It is currently trading near the high of this range.
Prices have been consolidating recently, this may present a good entry opportunity.
VRTX has an average volume of 1345660 traded shares per day. This is a good sign as it is always nice to have a liquid stock.

Statistics

1 Month 3 Months 6 Months 12 Months -0.23% 0.77% 8.79% 60.54% SMA(20) SMA(50) SMA(100) SMA(200) RS 52 Wk Range ST Trend LT Trend 97.31 176.36 - 305.95
VRTX Weekly chart
VRTX Daily chart

Support/Resistance Analysis


244.24

308.60
We found 3 important support areas.
  • A support zone ranging from 273.70 to 287.24. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
  • Support @251.69 from a trend line in the daily time frame.
  • Support @246.71 from a horizontal line in the weekly time frame.
We can see 2 important resistance areas.
  • Resistance @299.05 from a horizontal line in the weekly time frame.
  • Resistance @305.54 from a horizontal line in the daily time frame.

Setup Analysis

Setup Rating

9

VRTX has an excellent technical rating and also presents a decent setup pattern. We see reduced volatility while prices have been consolidating in the most recent period. There is very little resistance above the current price. There is a support zone below the current price at 287.24, a Stop Loss order could be placed below this zone. Another positive sign is the recent Pocket Pivot signal.

  • A Pocket Pivot is a price/volume accumulation pattern. A Pocket Pivot occurs when price moves up with volume higher than the maximum down volume registered in the previous 10 days.

Possible Trading Setup

The following trade can be suggested based on the decent technical rating and setup score.


ENTRYEXITDISTANCECAPITAL
299.06276.5622.50 (7.52%)13.29%
An entry @299.06. This is a Buy Stop order right above the resistance zone.An exit @276.56. This is a Stop Loss order right below the 10 day low.The trade has a worst case loss of 22.50 points, which is 7.52%.For a 1.00% total portfolio risk, you can invest 13.29% of your capital in this trade.

  • The generated setup is based on the nearest support and resistance areas. If you are looking for a more long term trade, probably a wider stop is advisable.
  • This trade setup was generated fully automatically and should not be interpreted as trading advice. Always check the related news for upcoming earnings or other events. Make your own analysis and trade at your own responsibility.