Vertex Pharmaceuticals Incorporated Stock Forecast

Green day on Tuesday for Vertex Pharmaceuticals Incorporated
(Updated on Jun 25, 2024)

VX1.F Signals & Forecast

There are mixed signals in the stock today. A sell signal was issued from a pivot top point on Friday, June 14, 2024, and so far it has fallen -1.30%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Volume fell during the last trading day while the price increased. This causes a divergence and may be considered as an early warning, but it may not be. The very low volume increases the risk and reduces the other technical signals issued. The Vertex Pharmaceuticals Incorporated stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at 439.32€ and 422.82€. A breakdown below any of these levels will issue sell signals.

Support, Risk & Stop-loss for Vertex Pharmaceuticals Incorporated stock

Vertex Pharmaceuticals Incorporated finds support from accumulated volume at 429.75€ and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.

This stock has average movements during the day, but be aware of low or falling volume as this increases the risk. During the last day, the stock moved 3.55€ between high and low, or 0.799%. For the last week the stock has had daily average volatility of 1.27%.

Our recommended stop-loss: 428.83€ (-3.49%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 18 days ago.)

Trading Expectations (VX1.F) For The Upcoming Trading Day Of Wednesday 26th

For the upcoming trading day on Wednesday, 26th we expect Vertex Pharmaceuticals Incorporated to open at 445.53€, and during the day (based on 14 day Average True Range), to move between 437.02€ and 451.68€, which gives a possible trading interval of +/-7.33€ (+/-1.65%) up or down from last closing price. If Vertex Pharmaceuticals Incorporated takes out the full calculated possible swing range there will be an estimated 3.30% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at 445.40€ (0.24%) than the support at 429.75€ (3.29%), our systems don't find the trading risk/reward intra-day attractive and any bets should be held until the stock is closer to the support level.

Is Vertex Pharmaceuticals Incorporated stock A Buy?

Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for Vertex Pharmaceuticals Incorporated stock to perform well in the short-term.

Current score: 1.631 Buy Candidate Unchanged

Predicted Opening Price for Vertex Pharmaceuticals Incorporated of Wednesday, June 26, 2024

The predicted opening price is based on yesterday's movements between high, low, and closing price.