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- 4/19/2024 -
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Boston Scientific (BSX) Technical Analysis
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| Summary:
| | Weekly :  | | Daily :
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| | It was the negative week for the Boston Scientific (BSX). During the week, the BSX dropped -0.74 points, or -1.09%, and closed at 67.33 on Friday, April 19, 2024. Weekly volume was -12% below average.
 Long-term trend: [See BSX long-term trend chart]
A long-term uptrend had started on July 26, 2012 at 4.79 and reached 69.21 on April 11, 2024. BSX gained -64.42 points, or -1344.89%, in 611 weeks. The chart has formed a Ascending Triangle chart pattern. The uptrend resistance line (38.44) is broken. Usually a broken resistance is considered to be a long-term bullish signal, although a short-term pull back is possible. Use the following links to access Trend Support/Resistance Help, or use the Technical Stock Screener to see the list of stocks with broken trend resistance line in a long-term trend.
 Medium-term trend: [See BSX medium-term trend chart]
A medium-term uptrend had started on June 16, 2022 at 34.98 and reached 69.21 on April 11, 2024. BSX gained -34.23 points, or -97.86%, in 95 weeks. The chart has formed a Rising Channel chart pattern. The uptrend resistance line (53.59) is broken. Usually a broken resistance is considered to be a long-term bullish signal, although a short-term pull back is possible. Use the following links to access Trend Support/Resistance Help, or use the Technical Stock Screener to see the list of stocks with broken trend resistance line in a medium-term trend.
 Weekly Technical Indicators: [See BSX weekly technical indicators chart]
Weekly Lane's Stochastic is overbought while Williams' Percentage Range is strongly overbought. Use the Technical Stock Screener to see the list of stocks with overbought weekly Lane's Stochastic or strongly overbought weekly Williams' Percentage Range. 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 November 17, 2023. This is an indication that the medium-term trend is up. The distance between MACD and the signal line is low and getting smaller. It indicates that the current medium-term uptrend is getting weak. 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 April 11, 2024 at 69.21 and reached 66.91 on April 19, 2024. BSX lost 2.30 points, or 3.32%, in 8 days. The price is now at the 18.26% retracement level.
 Daily Technical Indicators: [See BSX daily technical indicators chart]
Daily technical indicators are neutral.
The daily MACD line is below its signal line since February 15, 2024. This is an indication that the short-term trend is down.
During the last week, the price has declined below the moving average in the center of the Bollinger Bands. The distance between the Bollinger Bands (2.97%) is close to one year low (3.37%). It is 61.39% lower than one year average. It indicates the period of low volatility of the stock price, and it is considered a buy signal for the option traders. The Bollinger Bands are often used with a non-oscillator indicator like chart patterns or a trendline. The signals are considered more reliable if these indicators confirm the recommendation of the Bollinger Bands. Use the following links to access the Bollinger Bands Help, or use the Technical Stock Screener to see the list of stocks with the price above the Upper Bollinger Band or below the Lower Bollinger Band.
Price is close to the 50 Day Moving Average. The moving average crossover signals work better when the stock develops a strong trend, but they are ineffective when the stock is in a trading range. Moving average crossover systems can be effective, but should be used in conjunction with trend patterns, momentum indicators, candlesticks and other aspects of technical analysis. Use the following links to access Moving Average Crossover trading technique, or use the Technical Stock Screener to see the list of stocks with the Moving Average close to the price level.
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