BSX Technical Analysis - BOSTON SCIENTIFIC CORP

Technical Rating and Analysis

Taking everything into account, BSX scores 1 out of 10 in our technical rating. BSX has been an average performer in the overall market. Also recent evolutions are not that positive: both the medium and short term time frames give negative signs.

The short term trend is negative, as is the long term trend. There should be more interesting stocks out there.

BSX is currently trading in the lower part of its 52 week range, which is not a good signal. Certainly not because the S&P500 Index is trading near new highs.

In the last month BSX has a been trading in the 81.60 - 92.80 range, which is quite wide. It is currently trading near the lows of this range.

Warning: BSX has an average volume of 4150 traded shares per day. This is quite low and it might be dangerous to invest in illiquid stocks.

BSX is part of the Health Care Equipment & Supplies industry. There are 58 other stocks in this industry. BSX outperforms 70% of them.

When comparing the performance of all stocks over the past year, BSX turns out to be only a medium performer in the overall market: it outperformed 42% of all stocks.

Volume is considerably higher in the last couple of days.

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Technical Analysis

Relative Strength

ChartMill Trend Indicator

Simple Moving Average

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Weekly and Daily overview Charts

BOSTON SCIENTIFIC CORP / BSX Weekly stock chart

BOSTON SCIENTIFIC CORP / BSX Daily stock chart

Setup Rating and Analysis

The technical rating of BSX is bad and it also does not present a quality setup at the moment. Price movement has been a little bit too volatile to find a nice entry and exit point. It is probably a good idea to wait for a consolidation first.

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ChartMill Technical Ratings

Pocket Pivots

Bull Flags

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Support and Resistance Analysis

81.38

96.46

We found 1 important support area.

Support @82.20 from a horizontal line in the daily time frame.

When analyzing the resistance we notice 3 important areas.

Resistance @83.00 from a horizontal line in the weekly time frame.
A resistance zone ranging from 87.97 to 93.00. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
Resistance @95.50 from a horizontal line in the daily time frame.

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Support and Resistance indicators

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Technical Indicator Signal Analysis

The Technical Rating and Setup analysis above combine different indicators and trends in different timeframes. Individual signals from indicators may give more contradictive signals and should always be interpreted in the more global context.

Indicator	Value	Signal	Comment
ChartMill Long Term Trend Indicator	DOWN	NEGATIVE	The long term trend for BSX.DE is down.
ChartMill Short Term Trend Indicator	DOWN	NEGATIVE	The short term trend for BSX.DE is down.
ChartMill Relative Strength	42.12	NEUTRAL	BSX.DE is not amongst the best or worst performers on the market.
Simple Moving Average/SMA (20)	DOWN	NEGATIVE	The current price of BSX.DE is below a declining SMA(20).
Simple Moving Average/SMA (50)	DOWN	NEGATIVE	The current price of BSX.DE is below a declining SMA(50).
Simple Moving Average/SMA (200)	DOWN	NEGATIVE	The current price of BSX.DE is below a declining SMA(200).
Relative Strength Index/RSI (14)	37.86	NEUTRAL	The RSI value for BSX.DE is a neutral value.
Moving Average Convergence Divergence/MACD (12, 26, 9)	-0.64	NEGATIVE	The MACD value suggests BSX.DE has a negative trend, although the MACD value is rising.
Stochastics (14,3)	13.23	OVERSOLD	The low Stochastics value suggests BSX.DE may be oversold.
Average True Range in percent/ATR (20)	1.79	LOW VOLATILITY	The low ATR as a percentage value for BSX.DE suggests low volalility.
Average Directional Index/ADX (14)	23.89	NEUTRAL	The ADX value for BSX.DE suggests a possible start of a new trend.