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S&P 500 Overbought StocksArchive
- 5/19/2023 -
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Boston Scientific (BSX) |
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| Summary:
| | Weekly :  | | Daily :
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| | It was a second consecutive positive week for the Boston Scientific (BSX). During the week, the BSX climbed 0.30 points, or 0.56%, and closed at 53.64 on Friday, May 19, 2023. Weekly volume was 9% above 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 54.08 on May 16, 2023. BSX gained -49.29 points, or -1029.02%, in 563 weeks. The chart has formed a Rising Wedge chart pattern. The uptrend resistance line (35.78) 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 16, 2022 at 34.98 and reached 54.08 on May 16, 2023. BSX gained -19.10 points, or -54.60%, in 47 weeks. The chart has formed a Rising Channel chart pattern. The price is near the trend resistance line (53.84). 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 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. Weekly Lane's Stochastic has bearish divergence. Use the following links to access the Lane's Stochastic help, or use the Technical Stock Screener to see the list of stocks with weekly Lane's Stochastic 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 Lane's Stochastic and Williams' Percentage Range help.
The weekly MACD line is above its signal line since July 29, 2022. 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 April 26, 2023 at 50.00 and reached 54.08 on May 16, 2023. BSX gained -4.08 points, or -8.16%, in 20 days. The chart has formed a Rising Wedge chart pattern.
 Daily Technical Indicators: [See BSX daily technical indicators chart]
Daily Williams' Percentage Range and Lane's Stochastic are overbought. Use the Technical Stock Screener to see the list of stocks with overbought daily Williams' Percentage Range and Lane's Stochastic. 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.
During the last week, daily MACD line has moved below its signal line. Such crossover is considered a bearish signal.
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| Daily Oscillators |
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| Weekly Oscillators |
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| Trading
Signals |
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| Sector and
Industry |
| Description |
Name |
Rank |
| Sector |
Health Care |
9 |
| Industry |
Health Care Equipment |
97 |
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| Daily Trend |
| Description |
Value |
| Direction |
Up |
| Chart Pattern |
Rising Wedge |
| Low |
50.00 |
| Low Date |
04/26/2023 |
| High |
54.08 |
| High Date |
05/16/2023 |
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| Weekly Trend |
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| Description |
Value |
| Direction |
Up |
| Chart Pattern |
Uptrend |
| Status |
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| Resistance |
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| Support |
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| Low |
45.93 |
| Low Date |
02/21/2023 |
| High |
54.08 |
| High Date |
05/16/2023 |
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| Description |
Value |
| Direction |
Up |
| Chart Pattern |
Rising Wedge |
| Status |
Broken Resistance |
| Resistance |
50.79 |
| Support |
51.41 |
| Low |
37.74 |
| Low Date |
09/27/2022 |
| High |
54.08 |
| High Date |
05/16/2023 |
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| Quarterly Trend |
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| Description |
Value |
| Direction |
Up |
| Chart Pattern |
Rising Channel |
| Status |
Test Resistance |
| Resistance |
53.84 |
| Support |
48.85 |
| Low |
34.98 |
| Low Date |
06/16/2022 |
| High |
54.08 |
| High Date |
05/16/2023 |
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| Description |
Value |
| Direction |
Up |
| Chart Pattern |
Rising Wedge |
| Status |
Broken Resistance |
| Resistance |
47.91 |
| Support |
35.78 |
| Low |
4.79 |
| Low Date |
07/26/2012 |
| High |
54.08 |
| High Date |
05/16/2023 |
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