Cystic Fibrosis Treater on ‘Buy’ Signal

Yesterday, we looked at a Daily Price Chart and an On Balance Volume Chart for Inovio Pharmaceuticals, Inc. noting that the stock has been in a price uptrend.

Today’s Chart of the Day is a Daily Price Chart for Vertex Pharmaceuticals Inc. (NYSE: VRTX).

Vertex Pharmaceuticals Incorporated engages in developing and commercializing therapies for the treatment of cystic fibrosis (CF). The company markets TRIKAFTA, SYMDEKO/SYMKEVI, ORKAMBI, and KALYDECO to treat patients with CF who have specific mutations in their CF transmembrane conductance regulator gene.

Now, below is a Daily Price Chart for Vertex Pharmaceuticals Inc.

Back in October 2019, the VRTX 1-Month price crossed above the 10-Month simple moving-average (SMA) indicating VRTX is on a PowerTrend ‘buy’ signal (circled).

Since October?

You can see prices ratcheting upwards steadily.

If you had purchased VRTX shares when the PowerTrend ‘buy’ signal occurred for the stock back in October 2019, when the stock was around $195.48, you’d be up 23.9% by now.

Not a bad profit for a five-month-hold of a major pharmaceutical company.

Now, as you can see, the 1-Month moving-average is still above the 10-Month SMA. That means the bullish trend is still in play!

As long as the 1-Month Price remains above the 10-Month SMA, the stock is more likely to keep trading at new highs in the coming days and weeks.

We’ll be keeping our eye on this stock as it continues to trend upward so we’ll know the moment the market conditions shift and the stock begins to come back down.

Best Regards,

Chuck Hughes
Editor, Chart Of The Day

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