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  • Writer's pictureT. Livingston

VRTX Looks Like A Leader

Even though the S&P 500 is still trading near its' lows, this is not a time to tune out the market. Instead, it's best to be on the lookout for the next wave of market leaders. Vertex Pharmaceuticals may just fit that category. What strikes me the most about VRTX is the strong prior uptrend it had earlier this year. I bought this stock near the 50-day in early March and sold it on the way up, but I've been looking for a reentry for quite some time now. My reasoning is simple- I've only seen that kind of gain on a handful of my trades this year, and I'm looking to circle back to a stock that is showing particularly impressive strength.

Vertex appears to be forming a cup and handle style base on the weekly chart. In addition, this strong relative strength stock is also in the biotech group, which has been one of the best performing groups this year. Overall, VRTX is one of the most fundamentally sound stocks in the market, with a history of strong earnings and sales growth, as well as a return on equity of over 30%.

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YouTube Channel Full Disclosure: I currently own VRTX. Disclaimer: This information is issued solely for informational and educational purposes and does not constitute an offer to sell or a solicitation of an offer to buy securities. None of the information contained in this post constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is suitable for any specific person. From time to time, the content creator or its affiliates may hold positions or other interests in securities mentioned in this blog or the associated Twitter and Instagram feeds. The stock or stocks presented are not to be considered a recommendation to buy any stock or stocks. This material does not take into account your particular investment objectives. Investors should consult their own financial or investment adviser before trading or acting upon any information provided. Past performance is not indicative of future results.

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