BSX Technical Analysis - BOSTON SCIENTIFIC CORP

Technical Rating and Analysis

We assign a technical rating of 1 out of 10 to BSX. 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 neutral, while the long term trend is still negative. We need to see a little more continued positive action to make this really interesting.

In the last month BSX has a been trading in the 90.69 - 100.00 range, which is quite wide. It is currently trading near the high of this range.

BSX has an average volume of 8799890 traded shares per day. This is a good sign as it is always nice to have a liquid stock.

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 53% of all stocks.

BSX is part of the Health Care Equipment & Supplies industry. There are 191 other stocks in this industry, BSX did better than 65% of them.

BSX is currently trading in the middle of its 52 week range. The S&P500 Index however is currently trading near new highs, so BSX is lagging the market.

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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

Although the technical rating is bad, BSX does present a nice setup opportunity. Prices have been consolidating lately. There is a support zone below the current price at 96.99, a Stop Loss order could be placed below this zone.

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ChartMill Technical Ratings

Pocket Pivots

Bull Flags

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Support and Resistance Analysis

92.64

109.22

When analyzing the support we notice one important area.

A support zone ranging from 93.58 to 96.99. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.

When analyzing the resistance we notice 2 important areas.

Resistance @103.08 from a horizontal line in the daily time frame.
A resistance zone ranging from 106.11 to 108.14. This zone is formed by a combination of multiple trend lines in multiple time frames.

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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 is down.
ChartMill Short Term Trend Indicator	NEUTRAL	NEUTRAL	The short term trend for BSX is neutral.
ChartMill Relative Strength	53.28	NEUTRAL	BSX is not amongst the best or worst performers on the market.
Simple Moving Average/SMA (20)	DOWN	MIXED	The current price of BSX is above a declining SMA(20).
Simple Moving Average/SMA (50)	DOWN	NEGATIVE	The current price of BSX is below a declining SMA(50).
Simple Moving Average/SMA (200)	UP	MIXED	The current price of BSX is below the rising SMA(200).
Relative Strength Index/RSI (14)	47.18	NEUTRAL	The RSI value for BSX is a neutral value.
Moving Average Convergence Divergence/MACD (12, 26, 9)	0.36	POSITIVE	The MACD value suggests BSX has a positive trend.
Stochastics (14,3)	71.5	NEUTRAL	The Stochastics value for BSX is a neutral value.
Average True Range in percent/ATR (20)	2.37	MEDIUM VOLATILITY	The ATR as a percentage value for BSX suggests some volalility.
Average Directional Index/ADX (14)	33.22	POSITIVE	The high ADX value value for BSX suggests a strong trend.