Overbought with RSI on 70.
Possible cup without a clear handle. 2 are noted within the rectangle and the 1st one failed to break resistance.
Price is above upper trendline today but no clear uptrend noted. Some would wait for at least 2 closes to confirm a trend.
No recommendation
The PEAD projected a bullish outlook for $VRTX after a negative under reaction following its earnings release placing the stock in drift D with an expected accuracy of 80%.
The Trend Lines are above. If SPX does not decline, all the stocks can start a rally which I expect cannot exceed the ATH. I expect 2024 will be the bigger rally and this year, I expect fluctuations.
Not an investment reccomendation.
What we can see in the chart is a rising wedge pattern. We expect the price to break down from the rising wedge formation.
It may take a little bit more time since the price is still consolidating inside the wedge.
You should enter short position when/if the price breaks down of the wedge with a volume surge.
Do not forget to put a stop loss once you enter the...
Price appears to be in a suspicious pattern with both trendlines sloping up and narrowing somewhat at the apex.
Price is above a Rectangle and I see a candle that went diving for support recently.
This market could send this higher as there seems to be no rhyme or reason as of late.
No recommendation.
I see a beautiful channel from the bottom of 2008. My concern is the bottom of october 2021 is the 4th time it touches (telling me being cautious because of possibly exhausting bullish trend) and the last weeks formed a rising wedge just under the middle of the 15 year channel. Also the top of july 2020 is too close, the "breakout" on 24th oct was not a really...
Diving shadows on a candle may indicate trouble ahead. Diving Dojis and diving candle shadows can represent desperation.
So far in my study on the divers, it is not good but have noted it is not an immediate negative response.
This one went deep water diving looking for support and found it for the time being. Buyers came in and saved the day.
For how long?...
The PEAD projected a Bullish outlook for $VRTX after a Positive Under reaction following its earnings release placing the stock in drift B with an expected accuracy of 50%.
We see this pullback as a good short-term trade opportunity. That said, the options on this name are both not very liquid and most have open interest levels below 100. We tend to avoid options where there are wide bid/ask spreads (even when we can get the option in the midpoint) and when open interest for any strike price is below 100 contracts. This is one to watch.
Vertex stock is still actionable as it rebounds from the 10-week line. It has also blasted back above an alternative entry of 279.23.
The relative strength line has been spiking higher even as VRTX stock and the broader market struggled. The stock has retaken its 50-day moving average, an encouraging sign.
VRTX stock has soared more than 32% higher so far in...
Notes:
* Very strong up trend on all time frames
* Great earnings track record since 2017
* Breaking out of a ~4 month base with higher than average volume
* Printed a pocket pivot
* And offering an early entry relative to its 50 day line
* Breaking above a historical resistance of $290.48 with volume once again (Third time's the lucky charm? ;))
* Formed a...
(2/5) To highlight my point in the previous $VIVO post, here are 5 other charts in the Biotech sector that have shown relative strength lately. Don't get me wrong, the market is still on a downtrend, but should we reverse and start a new uptrend, this sector may potentially be the next one to lead a new bull market.
