Vertex Pharmaceutical is a biotech company based out of Boston. The company specializes in developing small molecule drugs following a rational drug design approach. Vertex drugs are considered to be the benchmark globally in areas like cystic fibrosis. Vertex has a solid pipeline of drugs in areas like cancer, inflammatory diseases, influenza, pain, and other diseases. Its long term prospects look bright.
The long term monthly chart for Vertex shows an uptrend which has accelerated post 2016. The stock had a major fall in October 2020 when it fell 24% to almost touch the bottom of the long-term trend as well as an important support-resistance line at $197. The price held above these two important levels and has bounced up this month. It now looks poised to re-test the 270-280 level. A stop loss can be placed below the $197 support line.
On the video and images above you will see the reason this stock was selected.
You will see the image is of a monthly chart of the stock showing the long-term upwards trend formed over the years. You will also see the entry point and the where the stop loss is placed. For more information please watch the video given.
Once it is time to move the original stop loss up you will see an additional image.