The Greedy Trader Weekly Analysis
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Archive
- 9/7/2018
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Boston Scientific
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Summary:
Weekly :Overbought sectorBroken uptrend resistance line - uptrend exhaustionRelative Strength Index and Williams' Percentage Range are overboughtMACD bearish divergenceTrend resistance at 36.03
Daily :Williams' Percentage Range is strongly overboughtStochastic has declined below the signal line
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It was a fifth consecutive positive week for the Boston Scientific (BSX). During the week, the BSX climbed 0.29 points, or 0.82%, and closed at 35.85 on Friday, September 07, 2018. Weekly volume was -20% below average.

BSX is a member of Healthcare Sector. Healthcare is the second 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 37.30 on June 11, 2018. BSX gained -32.51 points, or -678.71%, in 306 weeks. The chart has formed a Rising Channel chart pattern. The uptrend resistance line (29.48) 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 June 13, 2018 at 31.55 and reached 36.45 on September 4, 2018. BSX gained -4.90 points, or -15.53%, in 11 weeks. The chart has formed a Rising Channel chart pattern. The price is near the trend resistance line (36.03). The resistance is usually stronger when technical indicators are overbought. Use the following links to access Trend Support/Resistance Help, or use the Technical Stock Screener to see the list of stocks with price testing the trend resistance line in a medium-term trend.

Weekly Technical Indicators: [See BSX weekly technical indicators chart]
Weekly Relative Strength Index and Williams' Percentage Range are overbought. Use the Technical Stock Screener to see the list of stocks with overbought weekly Relative Strength Index and Williams' Percentage Range. Weekly 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 weekly MACD bearish 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 Relative Strength Index and Williams' Percentage Range help.

The weekly MACD line is above its signal line since March 2, 2018. This is an indication that the medium-term trend is up. 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 July 30, 2018 at 32.87 and reached 36.45 on September 4, 2018. BSX gained -3.58 points, or -10.89%, in 36 days. The price is now at the 16.76% retracement level.

Daily Technical Indicators: [See BSX daily technical indicators chart]
Daily Williams' Percentage Range is strongly overbought. Use the Technical Stock Screener to see the list of stocks with strongly overbought daily overbought Williams' Percentage Range. During the last week, daily Lane's Stochastic main line (%K) has declined below the overbought signal line (%D). Such crossover is considered a bearish signal. Use the following link to access Lane's Stochastic help.

The daily MACD line is above its signal line since August 14, 2018. 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) 73.68
Williams' Percentage Range (W%R) 4.10
Strong Overbought
Lane's Stochastic (%D-Slow) 77.44
Greed/Fear Indicator (GFI) 82.34
Overbought
Moving Average Converg./Diverg. (MACD) 0.52
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 87.90
Overbought
Williams' Percentage Range (W%R) 10.40
Overbought
Lane's Stochastic (%D-Slow) 72.43
Greed/Fear Indicator (GFI) 74.30
Moving Average Converg./Diverg. (MACD) 1.54 Bearish
Trading Signals
Description Value Chart
Upper Bollinger Band 36.54
Daily Stochastic Crossing 36.06
Monthly Trendline Resistance 36.03
Price 35.85
Weekly Stochastic Crossing 35.57
Parabolic System 35.30
20 Day Moving Average 34.84
50 Day Moving Average 34.03
Monthly Trendline Support 33.85
Lower Bollinger Band 33.39
Yearly Trendline Resistance 32.39
Yearly Trendline Support 29.48
Sector and Industry
Description Name Rank
Sector Healthcare 8
Industry Medical Instruments/Supls 71
Daily Trend
Description Value
Direction Up
Chart Pattern Uptrend
Low 35.16
Low Date 08/29/2018
High 36.45
High Date 09/04/2018
Weekly Trend
Monthly Trend
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 32.87
Low Date 07/30/2018
High 36.45
High Date 09/04/2018
Description Value
Direction Up
Chart Pattern Rising Channel
Status Test Resistance
Resistance 36.03
Support 33.85
Low 31.55
Low Date 06/13/2018
High 36.45
High Date 09/04/2018
Quarterly Trend
Yearly Trend
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 24.54
Low Date 12/06/2017
High 37.30
High Date 06/11/2018
Description Value
Direction Up
Chart Pattern Rising Channel
Status Broken Resistance
Resistance 32.39
Support 29.48
Low 4.79
Low Date 07/26/2012
High 37.30
High Date 06/11/2018
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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