Stocks quoted in this article:
Vertex Pharmaceuticals (VRTX - 119-3/8) was one of the top names on the Nasdaq new highs list today, as the biotechnology name gained more than 10 points. Since the stock's near-term intraday bottom on April 24, it has stepped up by 180 percent. Throughout this advance, the shares have obtained solid support from their ascending 10-day moving average. Despite this impressive technical strength, option activity in VRTX's pit was marginal today. As contrarians, we view this complacency from the options crowd as a bullish omen for the equity's near-term prospects. What's more, information from Multex
shows that there are only nine analysts now covering the security. Any new positive coverage could give VRTX an additional boost higher over the short term.