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S&P 500 Overbought StocksArchive
- 12/13/2024 -
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Boston Scientific (BSX) Technical Analysis
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| Summary:
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| | It was a first positive week for the Boston Scientific (BSX). During the week, the BSX climbed 0.04 points, or 0.04%, and closed at 90.11 on Friday, December 13, 2024. Weekly volume was -31% below average.
BSX is a member of Health Care Sector. Health Care is the second most oversold 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 91.92 on November 22, 2024. BSX gained -87.13 points, or -1819.00%, in 643 weeks. The chart has formed a Ascending Triangle chart pattern. The uptrend resistance line (40.35) 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 June 16, 2022 at 34.98 and reached 91.92 on November 22, 2024. BSX gained -56.94 points, or -162.78%, in 127 weeks. The chart has formed a Rising Channel chart pattern. The uptrend resistance line (64.08) 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 Lane's Stochastic is overbought while Williams' Percentage Range is strongly overbought. Use the Technical Stock Screener to see the list of stocks with overbought weekly Lane's Stochastic or strongly overbought weekly Williams' Percentage Range. During the last week, weekly Lane's Stochastic main line (%K) has declined below the overbought signal line (%D). Such crossover is considered a bearish 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 Lane's Stochastic and Williams' Percentage Range help.
The weekly MACD line is above its signal line since September 6, 2024. 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 uptrend had started on August 5, 2024 at 71.88 and reached 91.92 on November 22, 2024. BSX gained -20.04 points, or -27.88%, in 109 days. The chart has formed a Rising Channel chart pattern. The trend support level is at 84.35 and resistance is at 93.75. A Rising Channel represents price movement contained between parallel lower (support) and upper (resistance) trend lines. Trading Channeling stocks is one of the most reliable and accurate trading techniques that provide traders with precise entry and exit points as well as stop-losses and take-profit recommendations. Use the following link to access a Rising Channel chart pattern help, or use a Technical Stock Screener to see the list of stocks with Rising Channel pattern 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 December 2, 2024.
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.
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