The Greedy Trader Weekly Analysis
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Boston Scientific
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Summary:
Weekly :Overbought sectorRelative Strength Index is strongly overboughtBroken trend resistance lineBroken trend resistance line
Daily :Stochastic has declined below the signal lineDaily  MACD line has moved below its signal lineA Parabolic SAR indicator is below and near the price
Move cursor over the icon to see details.

It was the negative week for the Boston Scientific (BSX). During the week, the BSX gave back -0.26 points, or -0.77%, and closed at 33.35 on Friday, July 13, 2018. Weekly volume was -32% 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 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 (28.86) 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 December 6, 2017 at 24.54 and reached 37.30 on June 11, 2018. BSX gained -12.76 points, or -52.00%, in 26 weeks. The chart has formed a Rising Wedge chart pattern. The uptrend resistance line (27.80) 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 Relative Strength Index is strongly overbought. Use the Technical Stock Screener to see the list of stocks with strongly overbought weekly overbought Relative Strength Index. 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 Relative Strength Index 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. The distance between MACD and the signal line is relatively high, but getting smaller. It indicates that the current medium-term uptrend 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 June 13, 2018 at 31.55 and reached 34.09 on July 10, 2018. BSX gained -2.54 points, or -8.05%, in 27 days. The chart has formed a Broadening Ascending Wedge chart pattern. The trend support level is at 31.99 and resistance is at 34.38. A Broadening Ascending Wedge pattern is considered to be a reversal formation. It usually appears in a mature trend, characterized by overbought/oversold long-term and short-term indicators, and often generates divergence on long-term indicators. Use the following link to access a Broadening Ascending Wedge chart pattern help, or use a Technical Stock Screener to see the list of stocks with Broadening Ascending Wedge pattern in a short-term trend.

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

During the last week, daily MACD line has moved below its signal line. Such crossover is considered a bearish signal.

A Parabolic SAR (stop and reversal) indicator (33.52) comes close to the price (33.35). It indicates that the trend is getting weaker. 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) 61.51
Williams' Percentage Range (W%R) 22.90
Lane's Stochastic (%D-Slow) 70.06
Greed/Fear Indicator (GFI) 69.54
Moving Average Converg./Diverg. (MACD) 0.59
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 90.11
Strong Overbought
Williams' Percentage Range (W%R) 33.90
Lane's Stochastic (%D-Slow) 51.90
Greed/Fear Indicator (GFI) 59.65
Moving Average Converg./Diverg. (MACD) 1.03
Trading Signals
Description Value Chart
Weekly Trendline Resistance 34.38
Monthly Trendline Resistance 34.38
Upper Bollinger Band 33.98
Daily Stochastic Crossing 33.60
Parabolic System 33.52
Weekly Stochastic Crossing 33.47
Price 33.35
Monthly Trendline Support 33.11
20 Day Moving Average 32.78
Weekly Trendline Support 31.99
Yearly Trendline Resistance 31.77
Lower Bollinger Band 31.55
50 Day Moving Average 31.52
Quarterly Trendline Resistance 29.67
Yearly Trendline Support 28.86
Quarterly Trendline Support 27.80
Sector and Industry
Description Name Rank
Sector Healthcare 9
Industry Medical Instruments/Supls 109
Daily Trend
Description Value
Direction Down
Chart Pattern DownTrend
High 34.09
High Date 07/10/2018
Low 33.10
Low Date 07/11/2018
Weekly Trend
Monthly Trend
Description Value
Direction Up
Chart Pattern Broadening Ascending Wedge
Status Valid
Resistance 34.38
Support 31.99
Low 31.55
Low Date 06/13/2018
High 34.09
High Date 07/10/2018
Description Value
Direction Up
Chart Pattern Rising Channel
Status Valid
Resistance 34.38
Support 33.11
Low 26.27
Low Date 03/23/2018
High 37.30
High Date 06/11/2018
Quarterly Trend
Yearly Trend
Description Value
Direction Up
Chart Pattern Rising Wedge
Status Broken Resistance
Resistance 29.67
Support 27.80
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 31.77
Support 28.86
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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