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Uptrend Broken SupportArchive
- 4/5/2024 -
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Vertex Pharmaceuticals (VRTX) Technical Analysis
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| Summary:
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| | It was the negative week for the Vertex Pharmaceuticals (VRTX). During the week, the VRTX dropped -11.34 points, or -2.71%, and closed at 406.67 on Friday, April 5, 2024. Weekly volume was -33% below average.
VRTX is a member of Biotechnology Industry. Biotechnology is the seventh most oversold industry. Sector/industry rotation is considered a proven strategy to beat the market. Use the following links to find overbought/oversold technical indicators by Sector or by Industry.
 Long-term trend: [See VRTX long-term trend chart]
A long-term uptrend had started on November 11, 2003 at 7.83 and reached 448.40 on January 30, 2024. VRTX gained -440.57 points, or -5626.69%, in 1055 weeks. The chart has formed a Broadening Ascending Wedge chart pattern. The price is near the trend resistance line (398.69). The resistance is usually stronger when technical indicators are overbought. Use the following links to access Trend Support/Resistance Help, or use the Technical Stock Screener to see the list of stocks with price testing the trend resistance line in a long-term trend.
 Medium-term trend: [See VRTX medium-term trend chart]
A medium-term uptrend had started on October 6, 2021 at 176.36 and reached 448.40 on January 30, 2024. VRTX gained -272.04 points, or -154.25%, in 120 weeks. The chart has formed a Rising Channel chart pattern. The trend support level is at 365.94 and resistance is at 417.40. A Rising Channel represents price movement contained between parallel lower (support) and upper (resistance) trend lines. Trading Channeling stocks is one of the most reliable and accurate trading techniques that provide traders with precise entry and exit points as well as stop-losses and take-profit recommendations. Use the following link to access a Rising Channel chart pattern help, or use a Technical Stock Screener to see the list of stocks with Rising Channel pattern in a medium-term trend.
 Weekly Technical Indicators: [See VRTX weekly technical indicators chart]
Weekly Lane's Stochastic is oversold. Use the Technical Stock Screener to see the list of stocks with weekly oversold Lane's Stochastic. Oscillators are designed to signal a possible trend reversal. They can act as alerts and should be taken in conjunction with other technical analysis tools. Oscillators can be used to confirm other technical signals. Use the following link to access Lane's Stochastic help.
The weekly MACD line is below its signal line since March 8, 2024. Use the following link to access a MACD help.
 Short-term trend: [See VRTX short-term trend chart]
A short-term downtrend had started on January 30, 2024 at 448.40 and reached 400.83 on April 5, 2024. VRTX lost 47.57 points, or 10.61%, in 66 days. The chart has formed a Falling Wedge chart pattern. The trend support level is at 404.98 and resistance is at 419.12. A Falling Wedge is a triangle formation with a noticeable slant to the downside. It represents the loss of a downside momentum on each successive low and has a bullish bias. The Falling wedge usually marks a reversal in a downtrend. In an uptrend a falling wedge is considered to be a continuation pattern. Use the following link to access a Falling Wedge chart pattern help, or use a Technical Stock Screener to see the list of stocks with Falling Wedge pattern in a short-term trend.
 Daily Technical Indicators: [See VRTX daily technical indicators chart]
Daily Williams' Percentage Range is oversold. Use the Technical Stock Screener to see the list of stocks with daily oversold Williams' Percentage Range. Daily Lane's Stochastic and MACD have bullish divergence. Use the following links to access the Lane's Stochastic and MACD help, or use the Technical Stock Screener to see the list of stocks with daily Lane's Stochastic and MACD bullish divergence. The divergence between price and indicator is considering one of the most important buy/sell stocks trading signal. Use the following link to access Williams' Percentage Range help.
During the last week, daily MACD line has moved below its signal line. Such crossover is considered a bearish signal.
During the last week, the price has fallen below the Parabolic SAR (stop and reversal). A Parabolic SAR above the price is a bearish signal, and it indicates that momentum is likely to remain in the downward direction. A Parabolic SAR is used as a trailing stop loss for long or short positions. It works best during strong trending periods. Use the following links to access Parabolic SAR Help, or use the Technical Stock Screener to see the list of stocks with the Parabolic SAR close to the price level.
During the last week, the price has declined below the moving average in the center of the Bollinger Bands. The distance between the Bollinger Bands is falling, and it was 4.18% on Friday. It is 53.40% lower than one year average. It indicates the period of low volatility of the stock price. The Bollinger Bands are often used with a non-oscillator indicator like chart patterns or a trendline. The signals are considered more reliable if these indicators confirm the recommendation of the Bollinger Bands. Use the following links to access the Bollinger Bands Help, or use the Technical Stock Screener to see the list of stocks with the price above the Upper Bollinger Band or below the Lower Bollinger Band.
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