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Archive
- 8/27/2010
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Boston Scientific |
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| | It was the first negative week for the Boston Scientific (BSX). During the week, the BSX dropped -0.20 points, or -3.51%, and closed at 5.49 on Friday, August 27, 2010. Weekly volume was -41% below average.
 Long-term trend: [See BSX long-term trend chart]
A long-term downtrend had started on April 4, 2008 at 14.22 and reached 5.29 on August 24, 2010. BSX lost 8.93 points, or 62.80%, in 124 weeks. The chart has formed a Falling Channel chart pattern. The trend support level is at 4.65 and resistance is at 8.13. A Falling Channel represents price movement contained between parallel lower (support) and upper (resistance) trend lines. Trading Channeling stocks is one of the most reliable and accurate trading techniques that provide traders with precise entry and exit points as well as stop-losses and take-profit recommendations. Use the following link to access a Falling Channel chart pattern help, or use a Technical Stock Screener to see the list of stocks with Falling Channel pattern in a long-term trend.
 Medium-term trend: [See BSX medium-term trend chart]
A medium-term downtrend had started on September 1, 2009 at 11.77 and reached 5.29 on August 24, 2010. BSX lost 6.48 points, or 55.06%, in 51 weeks. The chart has formed a Falling Wedge chart pattern. A Falling Wedge is a triangle formation with a noticeable slant to the downside. It represents the loss of a downside momentum on each successive low and has a bullish bias. The Falling wedge usually marks a reversal in a downtrend. In an uptrend a falling wedge is considered to be a continuation pattern. Use the following link to access a Falling Wedge chart pattern help, or use a Technical Stock Screener to see the list of stocks with Falling Wedge pattern in a medium-term trend.
 Weekly Technical Indicators: [See BSX weekly technical indicators chart]
Weekly Williams' Percentage Range is strongly oversold. Use the Technical Stock Screener to see the list of stocks with weekly strongly oversold Williams' Percentage Range. Weekly Lane's Stochastic has bullish divergence. Use the following links to access the Lane's Stochastic help, or use the Technical Stock Screener to see the list of stocks with weekly Lane's Stochastic bullish divergence. The divergence between price and indicator is considering one of the most important buy/sell stocks trading signal. Oscillators are designed to signal a possible trend reversal. They can act as alerts and should be taken in conjunction with other technical analysis tools. Oscillators can be used to confirm other technical signals. Use the following links to access Lane's Stochastic and Williams' Percentage Range help.
The weekly MACD line is above its signal line since July 2, 2010. The distance between MACD and the signal line is low and getting smaller. Use the following link to access a MACD help.
Short-term trend: [See BSX short-term trend chart]
A short-term downtrend had started on July 15, 2010 at 6.62 and reached 5.29 on August 24, 2010. BSX lost 1.33 points, or 20.09%, in 40 days. The chart has formed a Falling Channel chart pattern. The trend support level is at 5.21 and resistance is at 5.68. Use the following link to access a Falling Channel chart pattern help, or use a Technical Stock Screener to see the list of stocks with Falling Channel pattern in a short-term trend.
 Daily Technical Indicators: [See BSX daily technical indicators chart]
Daily technical indicators are neutral. Daily Relative Strength Index and Lane's Stochastic have bullish divergence. Use the following links to access the Relative Strength Index and Lane's Stochastic help, or use the Technical Stock Screener to see the list of stocks with daily Relative Strength Index and Lane's Stochastic bullish divergence. Use the following link to access Relative Strength Index help.
During the last week, daily MACD line has moved below its signal line. Such crossover is considered a bearish signal.
During the last week, the price has fallen below the Parabolic SAR (stop and reversal). A Parabolic SAR above the price is a bearish signal, and it indicates that momentum is likely to remain in the downward direction. A Parabolic SAR is used as a trailing stop loss for long or short positions. It works best during strong trending periods. Use the following links to access Parabolic SAR Help, or use the Technical Stock Screener to see the list of stocks with the Parabolic SAR close to the price level.
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