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Vertex Pharmaceuticals (VRTX) Just Overtook the 20-Day Moving Average
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Vertex Pharmaceuticals (VRTX - Free Report) reached a significant support level, and could be a good pick for investors from a technical perspective. Recently, VRTX broke through the 20-day moving average, which suggests a short-term bullish trend.
The 20-day simple moving average is a popular trading tool. It provides a look back at a stock's price over a 20-day period, and is beneficial to short-term traders since it smooths out price fluctuations and provides more trend reversal signals than longer-term moving averages.
Similar to other SMAs, if a stock's price moves above the 20-day, the trend is considered positive, while price falling below the moving average can signal a downward trend.
Over the past four weeks, VRTX has gained 8.9%. The company is currently ranked a Zacks Rank #3 (Hold), another strong indication the stock could move even higher.
Once investors consider VRTX's positive earnings estimate revisions, the bullish case only solidifies. No earnings estimate has been lowered in the past two months, compared to 2 raised estimates, for the current fiscal year, and the consensus estimate has increased as well.
Investors should think about putting VRTX on their watchlist given the ultra-important technical indicator and positive move in earnings estimate revisions.
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Vertex Pharmaceuticals (VRTX) Just Overtook the 20-Day Moving Average
Vertex Pharmaceuticals (VRTX - Free Report) reached a significant support level, and could be a good pick for investors from a technical perspective. Recently, VRTX broke through the 20-day moving average, which suggests a short-term bullish trend.
The 20-day simple moving average is a popular trading tool. It provides a look back at a stock's price over a 20-day period, and is beneficial to short-term traders since it smooths out price fluctuations and provides more trend reversal signals than longer-term moving averages.
Similar to other SMAs, if a stock's price moves above the 20-day, the trend is considered positive, while price falling below the moving average can signal a downward trend.
Over the past four weeks, VRTX has gained 8.9%. The company is currently ranked a Zacks Rank #3 (Hold), another strong indication the stock could move even higher.
Once investors consider VRTX's positive earnings estimate revisions, the bullish case only solidifies. No earnings estimate has been lowered in the past two months, compared to 2 raised estimates, for the current fiscal year, and the consensus estimate has increased as well.
Investors should think about putting VRTX on their watchlist given the ultra-important technical indicator and positive move in earnings estimate revisions.