Large Cap Biotech with Relative Strength Gearing up for Breakout
Vertex Pharma (VRTX) shares are flagging nicely near recent highs and have stayed wildly strong relative to the broad market. VRTX can break out above 490 and push higher towards 500 with the one year value high up at 505 as an extended target if the market joins in and rebounds from here. VRTX still has the large March $400 and $450 calls holding in open interest and poised to make a big move higher, especially if those calls adjust out to a further expiration.