By Mill Chart
Last update: Dec 28, 2023
Our stock screener has detected a potential breakout setup on BOSTON SCIENTIFIC CORP (NYSE:BSX). This breakout pattern is observed when a stock consolidates following a strong upward movement. It's important to note that this pattern is based on technical analysis, and the actual breakout outcome is uncertain. However, it might be worth keeping an eye on NYSE:BSX.
ChartMill employs a sophisticated system to assign a Technical Rating to every stock in its analysis. This rating, which ranges from 0 to 10, is determined by carefully assessing multiple technical indicators and properties.
Overall BSX gets a technical rating of 8 out of 10. Although BSX is only a medium performer in the overall market, the technical picture looks good in both the medium and short term time frames.
For an up to date full technical analysis you can check the technical report of BSX
ChartMill also assign a Setup Rating to every stock. With this score it is determined to what extend the stock has been trading in a range in the recent days and weeks. This score also ranges from 0 to 10 and is updated daily. The setup score evaluates various short term technical indicators. NYSE:BSX scores a 8 out of 10:
Besides having an excellent technical rating, BSX also presents a decent setup pattern. Prices have been consolidating lately and the volatility has been reduced. There is a support zone below the current price at 55.83, a Stop Loss order could be placed below this zone. We notice that large players showed an interest for BSX in the last couple of days, which is a good sign.
For a potential trade one would typically wait until the stock breaks out of the consolidation zone to enter the stock and it could be sold again for a loss when it would fall back below the zone.
This article should in no way be interpreted as trading advice. You should always make your own analysis and trade or not trade based on your own observations and style. The article is based purely on some technical observations.
Our Breakout screener lists more breakout setups and is updated daily.
This is not investing advice! The article highlights some of the observations at the time of writing, but you should always make your own analysis and invest based on your own insights.
BOSTON SCIENTIFIC CORP
NYSE:BSX (4/26/2024, 7:04:01 PM)
After market: 73 -0.17 (-0.23%)73.17
-0.09 (-0.12%)
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