BOSTON SCIENTIFIC CORP (BSX) Stock Technical Analysis
NYSE:BSX - New York Stock Exchange, Inc. - US1011371077 - Common Stock - Currency: USD
Taking everything into account, BSX scores 7 out of 10 in our technical rating. BSX has been one of the better performers in the overall market. Some doubts were observed in the medium time frame, but recent action was again very positive.
The long term trend is positive and the short term trend is neutral. The long term trend gets the benefit of the doubt for now.
When comparing the yearly performance of all stocks, we notice that BSX is one of the better performing stocks in the market, outperforming 79% of all stocks. We also observe that the gains produced by BSX over the past year are nicely spread over this period.
BSX is one of the better performing stocks in the Health Care Equipment & Supplies industry, it outperforms 81% of 187 stocks in the same industry.
BSX is currently trading in the upper part of its 52 week range. The S&P500 Index however is currently trading near a new high, so BSX is lagging the market slightly.
BSX has an average volume of 7206880 traded shares per day. This is a good sign as it is always nice to have a liquid stock.
In the last month BSX has a been trading in the 98.00 - 107.53 range, which is quite wide. It is currently trading in the middle of this range, so some resistance may be found above.
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 103.12, a Stop Loss order could be placed below this zone.
More info and screens
88.36
108.48
When analyzing the support we can see 4 important areas.
- A support zone ranging from 102.14 to 103.12. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
- Support @97.01 from a trend line in the weekly time frame.
- Support @93.56 from a trend line in the daily time frame.
- A support zone ranging from 89.25 to 89.70. This zone is formed by a combination of multiple trend lines in multiple time frames.
2 important resistance areas can be observed.
- A resistance zone ranging from 103.46 to 104.29. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
- A resistance zone ranging from 106.11 to 107.41. This zone is formed by a combination of multiple trend lines in multiple time frames.
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 | UP | POSITIVE | The long term trend for BSX is up. |
| ChartMill Short Term Trend Indicator | NEUTRAL | NEUTRAL | The short term trend for BSX is neutral. |
| ChartMill Relative Strength | 79.42 | POSITIVE | BSX has a high relative strength, it outperformed 79.42% off all stocks on the market. |
| Simple Moving Average/SMA (20) | UP | POSITIVE | The current price of BSX is above the rising SMA(20). |
| Simple Moving Average/SMA (50) | UP | MIXED | The current price of BSX is below the rising SMA(50). |
| Simple Moving Average/SMA (200) | UP | POSITIVE | The current price of BSX is above the rising SMA(200). |
| Relative Strength Index/RSI (14) | 49.71 | NEUTRAL | The RSI value for BSX is a neutral value. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | -0.11 | NEGATIVE | The MACD value suggests BSX has a negative trend. |
| Stochastics (14,3) | 37.01 | NEUTRAL | The Stochastics value for BSX is a neutral value. |
| Average True Range in percent/ATR (20) | 1.77 | LOW VOLATILITY | The low ATR as a percentage value for BSX suggests low volalility. |
| Average Directional Index/ADX (14) | 14.49 | NEGATIVE | The low ADX value for BSX suggests a weak or negative trend. |
Daily CandleStick Patterns
Bullish Engulfing (D)
Bullish Hammer (D)
Bearish Inverted Hammer (D)
Hanging Man (D)
Bullish Harami (D)
Doji (D)
Gravestone Doji (D)
DragonFly Doji (D)
Bearish Engulfing (D)
Bearish Shooting Star (D)
Bearish Harami (D)
Inside Bar (D)
Red Dog Reversal Down (D)
Red Dog Reversal Up (D)
Dark Cloud Cover (D)
Weekly CandleStick Patterns
Bullish Engulfing (W)
Bullish Hammer (W)
Bearish Inverted Hammer (W)
Hanging Man (W)
Bullish Harami (W)
Doji (W)
Gravestone Doji (W)
DragonFly Doji (W)
Bearish Engulfing (W)
Bearish Shooting Star (W)
Bearish Harami (W)
Inside Bar (W)
Dark Cloud Cover (W)
Daily Chart Patterns
Bull Flag
Bear Flag
Ascending Triangle (D)
Descending Triangle (D)
Symmetrical Triangle (D)
Squeeze
Channel (D)
Channel Up (D)
Channel Down (D)
Rising Wedge (D)
Falling Wedge (D)
Double Bottom (D)
Multiple Bottom (D)
Double Top (D)
Multiple Top (D)
Weekly Chart Patterns
Weekly Bull Flag
Weekly Bear Flag
Squeeze Week
Channel (W)
Double Bottom (W)
Multiple Bottom (W)
Double Top (W)
Multiple Top (W)
Important!: this is just an example which is fully automatically generated based on the analysis above and should in no way be interpreted as a suggestion. Always make your own analysis and determine your own entry and exit points.
| ENTRY | EXIT | DISTANCE | CAPITAL |
|---|---|---|---|
| 104.30 | 102.13 | 2.17 (2.08%) | 25.00% |
| An entry @104.30. This is a Buy Stop order right above the resistance zone. | An exit @102.13. This is a Stop Loss order right below the support zone. | The trade has a worst case loss of 2.17 points, which is 2.08%. | When investing 25.00% of your capital in this trade, your total portfolio risk will be 0.52%. |
- The distance between exit and entry is rather small compared to the average daily movement of BSX. Please evaluate whether better entry and exit points can be found.
- The generated setup is based on the nearest support and resistance areas. If you are looking for a more long term trade, probably a wider stop is advisable.
- This trade setup was generated fully automatically and should not be interpreted as trading advice. Always check the related news for upcoming earnings or other events. Make your own analysis and trade at your own responsibility.
103.2
-0.66 (-0.64%)
Chartmill TA Rating
Chartmill Setup Rating
Sector
GICS SectorHealth Care
GICS IndustryHealth Care Equipment & Supplies
Performance
% Chg-0.64%
1 Week-1.07%
2 Weeks-1.32%
1 Month3.82%
3 Month10.17%
6 Month8.77%
12 Month32.84%
2 Year99.04%
3 Year151.4%
5 Year167.57%
10 Year495.16%
15 Year1742.86%
Volatility
ATR(14)1.84
ATR(20)%1.77%
ATR Inc-10.85%
Range Today1.23
ADR(20)1.79
ADR(20)%1.74%
Trend & SMA
ST Trend
LT Trend
SMA(5)
SMA(10)
SMA(20)
SMA(50)
SMA(100)
SMA(200)
Relative Strength & Ranges
CRS79.42
Mansfield0.27
10 Day High107.53
10 Day Low101.56
20 Day High107.53
20 Day Low98
52 Week High107.53
52 Week Low71.88
CS1 End103.12
CR1 Start103.46
Volume & EV
DER(3)0.65%
DER(5)1.46%
Volume5.89M
Volume Incr-17.47%
Vol(5)6.60M
Vol(50)7.21M