The Greedy Trader Weekly Analysis
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Boston Scientific
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Summary:
Weekly :Overbought sectorBroken trend resistance line
Daily :Lane's Stochastic is overboughtPrice is close to the 50 Day Moving AverageThe price has risen above the Parabolic SARPrice is near the Fibonacci 23.6% retracement levelThe price moved above the moving average in the center of the Bollinger Bands
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It was a first positive week for the Boston Scientific (BSX). During the week, the BSX gained 1.35 points, or 3.95%, and closed at 35.56 on Friday, January 11, 2019. Weekly volume was -8% 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 39.44 on October 2, 2018. BSX gained -34.65 points, or -723.38%, in 322 weeks. The chart has formed a Rising Channel chart pattern. The uptrend resistance line (30.85) 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 downtrend had started on October 2, 2018 at 39.44 and reached 31.56 on December 24, 2018. BSX lost 7.88 points, or 19.98%, in 11 weeks. The price is now at the 50.76% retracement level.

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

The weekly MACD line is below its signal line since October 19, 2018. This is an indication that the medium-term trend is down. The distance between MACD and the signal line is relatively high, but getting smaller. It indicates that the current medium-term downtrend is still strong, and momentum is beginning to wane. 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 January 3, 2019 at 32.73 and reached 36.33 on January 9, 2019. BSX gained -3.60 points, or -11.00%, in 6 days. Price is near the Fibonacci 23.6% retracement level. The Fibonacci retracement level is considered a support/resistance level.

Daily Technical Indicators: [See BSX daily technical indicators chart]
Daily Lane's Stochastic is overbought. Use the Technical Stock Screener to see the list of stocks with overbought daily Lane's Stochastic. 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 Lane's Stochastic help.

The daily MACD line is above its signal line since January 3, 2019. This is an indication that the short-term trend is up.

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.

During the last week, the price has moved above the moving average in the center of the Bollinger Bands. 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. While daily technical indicators are overbought, the 50 Day Moving Average is considered a resistance level. 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.

Daily Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 60.45
Williams' Percentage Range (W%R) 31.50
Lane's Stochastic (%D-Slow) 85.55
Overbought
Greed/Fear Indicator (GFI) 71.49
Moving Average Converg./Diverg. (MACD) -0.36
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 44.44
Williams' Percentage Range (W%R) 48.20
Lane's Stochastic (%D-Slow) 46.22
Greed/Fear Indicator (GFI) 48.99
Moving Average Converg./Diverg. (MACD) 1.15
Trading Signals
Description Value Chart
Upper Bollinger Band 37.43
Daily Stochastic Crossing 35.90
50 Day Moving Average 35.70
Price 35.56
Weekly Stochastic Crossing 34.49
20 Day Moving Average 34.49
Yearly Trendline Resistance 33.76
Parabolic System 33.12
Lower Bollinger Band 32.51
Yearly Trendline Support 30.85
Sector and Industry
Description Name Rank
Sector Healthcare 9
Industry Medical Instruments/Supls 133
Daily Trend
Description Value
Direction Up
Chart Pattern Uptrend
Low 32.73
Low Date 01/03/2019
High 36.33
High Date 01/09/2019
Weekly Trend
Monthly Trend
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 31.56
Low Date 12/24/2018
High 36.33
High Date 01/09/2019
Description Value
Direction Down
Chart Pattern DownTrend
Status
Resistance
Support
High 39.44
High Date 10/02/2018
Low 31.56
Low Date 12/24/2018
Quarterly Trend
Yearly Trend
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 24.54
Low Date 12/06/2017
High 39.44
High Date 10/02/2018
Description Value
Direction Up
Chart Pattern Rising Channel
Status Broken Resistance
Resistance 33.76
Support 30.85
Low 4.79
Low Date 07/26/2012
High 39.44
High Date 10/02/2018
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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