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Downtrend ResistanceArchive
- 4/19/2024 -
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Vertex Pharmaceuticals (VRTX) Technical Analysis
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| Summary:
| | Weekly :  | | Daily :
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| | It was the negative week for the Vertex Pharmaceuticals (VRTX). During the week, the VRTX gave back -2.27 points, or -0.57%, and closed at 394.28 on Friday, April 19, 2024. Weekly volume was -14% 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 (399.77). 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 368.71 and resistance is at 420.17. 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. The distance between MACD and the signal line is relatively high and getting bigger. 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 391.01 on April 18, 2024. VRTX lost 57.39 points, or 12.80%, in 79 days. The chart has formed a Falling Wedge chart pattern. The downtrend support line (403.57) is broken, while daily and weekly technical indicators are oversold. Downtrend is exhausted and trend reversal is possible soon. Use the following links to access Trend Support/Resistance Help, or use the Technical Stock Screener to see the list of stocks with broken trend support in a short-term trend.
 Daily Technical Indicators: [See VRTX daily technical indicators chart]
Daily Relative Strength Index, Williams' Percentage Range and Lane's Stochastic are oversold. Use the Technical Stock Screener to see the list of stocks with daily oversold Relative Strength Index, Williams' Percentage Range and Lane's Stochastic. During the last week, daily Lane's Stochastic main line (%K) has rallied above the oversold signal line (%D). Such crossover is considered a bullish signal. Daily MACD has bullish divergence. Use the following links to access the MACD help, or use the Technical Stock Screener to see the list of stocks with daily MACD bullish divergence. The divergence between price and indicator is considering one of the most important buy/sell stocks trading signal. Use the following links to access Relative Strength Index and Williams' Percentage Range help.
The daily MACD line is below its signal line since April 2, 2024. This is an indication that the short-term trend is down. The distance between MACD and the signal line is low and getting smaller. It indicates that the current short-term downtrend is getting weak.
A Parabolic SAR (stop and reversal) indicator (398.11) comes close to the price (394.28). It indicates that the trend is getting weaker. 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.
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