The Greedy Trader Weekly Analysis
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Boston Scientific (BSX)

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Summary:
Weekly :Overbought sectorBroken trend support lineBroken trend support line
Daily :Broken trend resistance lineThe price has risen above the Parabolic SAR
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It was a first positive week for the Boston Scientific (BSX). During the week, the BSX gained 2.10 points, or 6.31%, and closed at 35.38 on Thursday, July 2, 2020. It was the best weekly gain since May 8, 2020. Weekly volume was -12% below average.

BSX is a member of Health Care Sector. Health Care 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 46.62 on December 20, 2019. BSX gained -41.83 points, or -873.28%, in 386 weeks. The chart has formed a Rising Channel chart pattern. The uptrend support line (36.94) is broken. A broken support is considered to be a long-term bearish signal. 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 support in a long-term trend.

Medium-term trend: [See BSX medium-term trend chart]
A medium-term uptrend had started on March 23, 2020 at 24.10 and reached 39.33 on June 5, 2020. BSX gained -15.23 points, or -63.20%, in 10 weeks. The chart has formed a Rising Wedge chart pattern. The uptrend support line (43.01) is broken. A broken support is considered to be a long-term bearish signal. 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 support in a medium-term trend.

Weekly Technical Indicators: [See BSX weekly technical indicators chart]
Weekly technical indicators are neutral.

The weekly MACD line is above its signal line since May 8, 2020. 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 June 5, 2020 at 39.33 and reached 33.00 on June 29, 2020. BSX lost 6.33 points, or 16.09%, in 24 days. The chart has formed a Falling Wedge chart pattern. The downtrend resistance line (32.67) is broken. A broken support is considered to be a long-term bullish signal. 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 short-term trend.

Daily Technical Indicators: [See BSX daily technical indicators chart]
Daily technical indicators are neutral.

The daily MACD line is below its signal line since June 10, 2020. This is an indication that the short-term trend is down. The distance between MACD and the signal line is low and getting smaller. It indicates that the current short-term downtrend is getting weak.

During the last week, the price has risen above the Parabolic SAR (stop and reversal). A Parabolic SAR below the price is a bullish signal, and it indicates that momentum is likely to remain in the upward 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.

Daily Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 50.19
Williams' Percentage Range (W%R) 58.10
Lane's Stochastic (%D-Slow) 41.51
Greed/Fear Indicator (GFI) 44.52
Moving Average Converg./Diverg. (MACD) -0.40
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 58.04
Williams' Percentage Range (W%R) 40.30
Lane's Stochastic (%D-Slow) 52.59
Greed/Fear Indicator (GFI) 54.64
Moving Average Converg./Diverg. (MACD) -1.26
Trading Signals
Description Value Chart
Yearly Trendline Resistance 41.23
Monthly Trendline Resistance 39.82
Upper Bollinger Band 38.79
Yearly Trendline Support 36.94
50 Day Moving Average 36.42
20 Day Moving Average 36.02
Weekly Stochastic Crossing 35.72
Price 35.38
Daily Stochastic Crossing 34.88
Weekly Trendline Resistance 34.20
Parabolic System 33.09
Weekly Trendline Support 32.67
Lower Bollinger Band 32.56
Sector and Industry
Description Name Rank
Sector Health Care 10
Industry Health Care Equipment 89
Daily Trend
Description Value
Direction Up
Chart Pattern Uptrend
Low 33.00
Low Date 06/29/2020
High 36.05
High Date 07/02/2020
Weekly Trend
Monthly Trend
Description Value
Direction Down
Chart Pattern Falling Wedge
Status Broken Resistance
Resistance 34.20
Support 32.67
High 39.33
High Date 06/05/2020
Low 33.00
Low Date 06/29/2020
Description Value
Direction Up
Chart Pattern Rising Wedge
Status Broken Support
Resistance 39.82
Support 43.01
Low 24.10
Low Date 03/23/2020
High 39.33
High Date 06/05/2020
Quarterly Trend
Yearly Trend
Description Value
Direction Down
Chart Pattern DownTrend
Status
Resistance
Support
High 46.62
High Date 12/20/2019
Low 24.10
Low Date 03/23/2020
Description Value
Direction Up
Chart Pattern Rising Channel
Status Broken Support
Resistance 41.23
Support 36.94
Low 4.79
Low Date 07/26/2012
High 46.62
High Date 12/20/2019
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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