USA A1 Trading Advice (B) | 09-Jul-2024 | Expected Gain 5%-6%

 BUY   Vertex Pharmaceuticals (NASDAQ: VRTX)

Vertex Pharmaceuticals (NASDAQ: VRTX) STOCK RECOMMENDATION

Idea BUY
Buy Range 475 – 480
Target 500 – 505
StopLoss* below 460
Duration 12-14 Trading Days
Potential Returns 5% – 6%
Idea Buy Range Target StopLoss* Duration Potential Returns
BUY 475 – 480 500 – 505 below 460 12-14 Trading Days 5% – 6%

* Once the first target hit, reset the StopLoss at your buying price.

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Vertex Pharmaceuticals (NASDAQ: VRTX) STOCK OVERVIEW

Vertex Pharmaceuticals Incorporated, a biotechnology company, focuses on developing and selling therapies for cystic fibrosis (CF). The company offers various treatments such as TRIKAFTA/KAFTRIO, SYMDEKO/SYMKEVI, ORKAMBI, and KALYDECO for different age groups of CF patients. Additionally, the company’s pipeline includes VX-522, VX-548, Exa-cel, inaxaplin, Type 1 Diabetes, VX-970, and cancer treatments. Vertex Pharmaceuticals Incorporated, established in 1989, is based in Boston, Massachusetts.

Stock Data
NASDAQ Symbol VRTX
Sectoral Index Biotechnology
52 Weeks High 486.425
52 Weeks Low 339.02

Vertex Pharmaceuticals (NASDAQ: VRTX) - RELATIVE STRENGTH

Relative Performance - Last 1 Year

Vertex Pharmaceuticals —     NASDAQ —

Vertex Pharmaceuticals (NASDAQ: VRTX) - DAILY TECHNICAL ANALYSIS

VRTX-DAILY TECHNICAL ANALYSIS
Vertex Pharmaceuticals (NASDAQ: VRTX) - Technical Analysis (Daily)
  • The price has been steadily increasing and consistently forming higher highs and lows.
  • Recently, the price formed a bullish Pole & Flag pattern during its upward trend.
  • With a new breakout, the price is expected to continue rising.
  • As long as the price stays above the 460 level, the overall sentiment will remain bullish.

Vertex Pharmaceuticals (NASDAQ: VRTX) - RSI

Vertex Pharmaceuticals (NASDAQ: VRTX) - RSI
  • Current RSI of this stock is 63.94, which indicates the strength of buyers.

Vertex Pharmaceuticals (NASDAQ: VRTX) - EMA Cross

Vertex Pharmaceuticals (NASDAQ: VRTX) - EMA Cross
  • The short length exponential moving average (10 EMA) has crossed the long length exponential moving average (20 EMA) from the below, generates bullish signal. Last dayโ€™s candle has closed above all these moving averages. This suggests buyers are taking interest in this stock.

Vertex Pharmaceuticals (NASDAQ: VRTX) - ADX & DI

Vertex Pharmaceuticals (NASDAQ: VRTX) - ADX & DI
  • Increasing ADX value above 20, indicated the strength of the trend, thereby uptrending ADX confirms the bullish or bearish supportive decisions. Along with the rising ADX, and the +DI is above (or crossing) -DI, indicates the long trades should be favoured.

CONCLUSION - Vertex Pharmaceuticals (NASDAQ: VRTX) STOCK PRICE FORECAST

Based on our stock trading advice in USA, Vertex Pharmaceuticals stock price target will be USD 500 – USD 505 in the next 12-14 trading sessions.

Vertex Pharmaceuticals (NASDAQ: VRTX) TRADINGVIEW POSITION UPDATE

MONEY MANAGEMENT AND TRADING RULES

1)ย  Itโ€™s advisable to enter/exit in the recommended range.
2)ย  Strictly follow the StopLoss as mentioned. Honour it.
3) ย Use trailing StopLoss to retain profits.
4)ย  Diversify trading capital into our other trading recommendations.
5)ย  Risk only the money what you can afford to lose. Hedge accordingly.

Advisor / ANALYST SUMMARY

The stock trading advice is prepared by the Naranj Capital team under the guidance ofย Arijit Banerjee, CMT, CFTe. Arijit is a veteran trader and an active investor having in-depth knowledge of financial market research, advanced technical analysis, market cycle, algorithmic trading, and portfolio management. He is a Chartered Market Technician (CMT) accredited by CMT Association USA, the global authority of Technical Analysis and also has been honored as aย Certified Financial Technician (CFTe)ย by the International Federation of Technical Analysts, USA.

Disclosure

The views expressed herein are based solely on information available publicly/internal data/other sources believed to be reliable, but is not necessarily all-inclusive and is not guaranteed as to accuracy. The recommendations provided herein is solely for informational purposes and are not intended to be and must not be taken alone as the basis for an investment/trading decision. Trading and investing are subject to market risk and the securities discussed and opinions expressed herein may not be suitable for all investors. To read the full disclosure, please click here.

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