Stocks

Vertex Pharmaceuticals may rise to 515.00 - 524.00

2024-06-09

Our pivot point stands at 468.

Our preference

The upside prevails as long as 468 is support.

Alternative scenario

The downside breakout of 468 would call for 452 and 443.

Comment

The RSI is above 70. It could mean either that the stock is in a lasting uptrend or just overbought and therefore bound to correct (look for bearish divergence in this case). The MACD is above its signal line and positive. The configuration is positive. Moreover, the stock is above its 20 and 50 day moving average (respectively at 451.5465 and 422.3498).

Supports and resistances

534 **

524 *

515 **

505

483.04 (USD-last)

474

468 **

452 *

443 **

Number of asterisks represents the strength of support and resistance levels.

This is not investment advice. Past performance does not represent future performance. Your funds are at risk, please trade with caution and responsibility.


Author:

Paul Reid
Tradingtop

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