Vertex Pharmaceuticals (VRTX) Should Remain Supported

Vertex Pharmaceuticals Incorporated (VRTX), is a biotechnology company. It engages in developing & commercializing therapies for treating cystic fibrosis (CF). The company has collaborations with CRISPR Therapeutics AG, Moderna Inc, Entrada Therapeutics Inc, Arbor Biotechnologies Inc, Mammoth Biosciences Inc & Verve Therapeutics. It is based in Boston, US, comes under Healthcare sector & trades as “VRTX” ticker at Nasdaq. It is having 111.9 B$ market cap as on 26-Feb,2024.

VRTX trading at weekly highs as the part of impulse sequence within ((3)) of III & expect to remain supported in 3, 7 or 11 swings.

VRTX – Elliott Wave Latest Weekly View: 

In weekly, it placed ((II)) at $176.36 low in October-2021 & favors upside in ((III)) as it broke above ((I)) high. It placed (II) at $233.01 low & II at $282.21 low. Above there, it ended ((1)) of III at $387.42 high & ((2)) at $341.90 low. Within ((1)), it placed (1) at $325.19 high, (2) at $283.60 low, (3) at $354.46 high, (4) at $320.01 low & finally (5) as diagonal at $387.42 high. It corrected in ((2)) as 0.382 Fibonacci retracement of ((1)) sequence.

VRTX – Elliott Wave Latest Daily View: 

Above ((2)) low, it extended higher in (1) of ((3)) of III, which ended at $448.40 high. Later, it corrected lower in (2) as sharp pullback at $410.80 low as 0.382 Fibonacci retracement. Above there, it favors upside in (3) of ((3)), which confirms above (1) high of $448.40. Until then, it still may extend lower as double in (2), if breaks below $410.80 low before it should resume higher in (3). Currently, it favors upside in 1 of (3) & expect impulse sequence to confirm it in (3). We like to buy the pullback in 3, 7 or 11 swings at extreme areas, when reached.