Don't Ignore This Chart!

Vertex Goes for a Continuation Break


Vertex (VRTX) is part of the healthcare sector, which is one of the strongest sectors in the market. It is also part of the biotech industry, which is one of the strongest industry groups in the healthcare sector. This puts strong sector and industry group performance in its favor. On the price chart, VRTX hit 52-week highs in March-April and then consolidated into mid June. The stock broke above the April trend line with a surge over the last four days and is threatening resistance from the early June high. A follow through breakout here would argue for a continuation of the bigger uptrend and challenge to the March-April highs. 

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Choose "full quote" to see the information box at the top of your chart. StockCharts users can enter $SECTOR as a "price" indicator and $INDUSTRY to chart the associated sector or industry group.  Note that the sector and industry group will now change according to the symbol. For example, change the symbol to MSFT and the $SECTOR will automatically change to Technology and the $INDUSTRY will change to Software. Cool, huh!

Arthur Hill
About the author: , CMT, is the Chief Technical Strategist at Focusing predominantly on US equities and ETFs, his systematic approach of identifying trend, finding signals within the trend, and setting key price levels has made him an esteemed market technician. Arthur has written articles for numerous financial publications including Barrons and Stocks & Commodities Magazine. In addition to his Chartered Market Technician (CMT) designation, he holds an MBA from the Cass Business School at City University in London. Learn More
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