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Medical Instruments/Supls Industry Technical Analysis

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- 12/6/2019 -
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Boston Scientific (BSX)

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Summary:
Weekly :Overbought sectorBroken uptrend resistance line - uptrend exhaustionWilliams' Percentage Range is overboughtWeekly  MACD line has moved above its signal line
Daily :Williams' Percentage Range is overboughtMACD bearish divergence
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It was a second consecutive positive week for the Boston Scientific (BSX). During the week, the BSX gained 0.83 points, or 1.92%, and closed at 44.08 on Friday, December 6, 2019. Weekly volume was -45% below average.

BSX is a member of Healthcare Sector. Healthcare is the most overbought sector. Sector/industry rotation is considered a proven strategy to beat the market. Use the following links to find overbought/oversold technical indicators by Sector or by Industry.

Long-term trend: [See BSX long-term trend chart]
A long-term uptrend had started on July 26, 2012 at 4.79 and reached 44.22 on December 6, 2019. BSX gained -39.43 points, or -823.17%, in 384 weeks. The chart has formed a Rising Channel chart pattern. The uptrend resistance line (34.55) is broken, while daily and weekly technical indicators are overbought. Uptrend is exhausted and trend reversal is possible soon. 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 December 6, 2017 at 24.54 and reached 44.22 on December 6, 2019. BSX gained -19.68 points, or -80.20%, in 104 weeks. The chart has formed a Rising Wedge chart pattern. The trend support level is at 38.84 and resistance is at 44.94. A Rising Wage is a triangle formation with a noticeable slant to the upside. It represents the loss of an upside momentum on each successive high and has a bearish bias. The Rising wedge usually marks a reversal in an uptrend. In a downtrend a rising wedge is considered to be a continuation pattern. Use the following link to access a Rising Wedge chart pattern help, or use a Technical Stock Screener to see the list of stocks with Rising Wedge pattern in a medium-term trend.

Weekly Technical Indicators: [See BSX weekly technical indicators chart]
Weekly Williams' Percentage Range is overbought. Use the Technical Stock Screener to see the list of stocks with 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 link to access Williams' Percentage Range help.

During the last week, weekly MACD line has moved above its signal line. Such crossover is considered a bullish signal. Use the following link to access a MACD help.

Short-term trend: [See BSX short-term trend chart]
A short-term uptrend had started on November 22, 2019 at 41.65 and reached 44.22 on December 6, 2019. BSX gained -2.57 points, or -6.17%, in 14 days. The price is now at the 5.45% retracement level.

Daily Technical Indicators: [See BSX daily technical indicators chart]
Daily Williams' Percentage Range is overbought. Use the Technical Stock Screener to see the list of stocks with overbought daily Williams' Percentage Range. Daily MACD has bearish divergence. Use the following links to access the MACD help, or use the Technical Stock Screener to see the list of stocks with daily MACD bearish divergence. The divergence between price and indicator is considering one of the most important buy/sell stocks trading signal.

The daily MACD line is above its signal line since October 21, 2019. This is an indication that the short-term trend is up. The distance between MACD and the signal line is low and getting smaller. It indicates that the current short-term uptrend is getting weak.

Daily Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 68.87
Williams' Percentage Range (W%R) 17.20
Overbought
Lane's Stochastic (%D-Slow) 75.78
Greed/Fear Indicator (GFI) 75.81
Moving Average Converg./Diverg. (MACD) 0.60 Bearish
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 53.73
Williams' Percentage Range (W%R) 11.00
Overbought
Lane's Stochastic (%D-Slow) 73.33
Greed/Fear Indicator (GFI) 71.90
Moving Average Converg./Diverg. (MACD) 0.53
Trading Signals
Description Value Chart
Quarterly Trendline Resistance 44.94
Upper Bollinger Band 44.30
Price 44.08
Daily Stochastic Crossing 43.81
Weekly Stochastic Crossing 42.83
Parabolic System 42.53
20 Day Moving Average 42.34
50 Day Moving Average 40.83
Lower Bollinger Band 40.53
Yearly Trendline Resistance 38.85
Quarterly Trendline Support 38.84
Sector and Industry
Description Name Rank
Sector Healthcare 9
Industry Medical Instruments/Supls 66
Daily Trend
Description Value
Direction Up
Chart Pattern Uptrend
Low 41.65
Low Date 11/22/2019
High 44.22
High Date 12/06/2019
Weekly Trend
Monthly Trend
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 40.04
Low Date 11/11/2019
High 44.22
High Date 12/06/2019
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 37.65
Low Date 10/10/2019
High 44.22
High Date 12/06/2019
Quarterly Trend
Yearly Trend
Description Value
Direction Up
Chart Pattern Rising Wedge
Status Valid
Resistance 44.94
Support 38.84
Low 24.54
Low Date 12/06/2017
High 44.22
High Date 12/06/2019
Description Value
Direction Up
Chart Pattern Rising Channel
Status Broken Resistance
Resistance 38.85
Support 34.55
Low 4.79
Low Date 07/26/2012
High 44.22
High Date 12/06/2019
Warning: TheGreedyTrader.com presents weekly analysis. Technical indicators and trend parameters are calculated for the close of business day indicated on the top right corner of the screen.

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