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AI Analysis of BSX
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Boston Scientific Corporation stock downgraded from Strong Buy Candidate to Buy Candidate after Thursday trading session.
(Updated on Mar 28, 2024)

Buy or Hold candidate since Dec 08, 2023 Gain 24.64% PDF

The Boston Scientific Corporation stock price fell by -0.189% on the last day (Thursday, 28th Mar 2024) from $68.62 to $68.49. During the last trading day the stock fluctuated 0.86% from a day low at $68.33 to a day high of $68.92. The price has risen in 6 of the last 10 days and is up by 2.44% over the past 2 weeks. Volume has increased on the last day by 3 million shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 6 million shares were bought and sold for approximately $440.02 million.

The stock lies in the middle of a narrow and strong rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the stock is expected to rise 18.24% during the next 3 months and, with a 90% probability hold a price between $80.19 and $83.30 at the end of this 3-month period.

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BSX Signals & Forecast

There are mixed signals in the stock today. A sell signal was issued from a pivot top point on Wednesday, March 27, 2024, and so far it has fallen -0.189%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Volume rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely. The Boston Scientific Corporation stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at $67.85 and $66.79. A breakdown below any of these levels will issue sell signals.

Support, Risk & Stop-loss for Boston Scientific Corporation stock

On the downside, the stock finds support just below today's level from accumulated volume at $64.37 and $63.26. There is a natural risk involved when a stock is testing a support level, since if this is broken, the stock then may fall to the next support level. In this case, Boston Scientific Corporation finds support just below today's level at $64.37. If this is broken, then the next support from accumulated volume will be at $63.26 and $59.92.

In general the stock tends to have very controlled movements and with good liquidity the risk is considered very low in this stock. During the last day, the stock moved $0.585 between high and low, or 0.86%. For the last week the stock has had daily average volatility of 1.07%.

Our recommended stop-loss: $66.44 (-2.99%) (This stock has low daily movements and this gives low risk. There is a sell signal from a pivot top found 1 day ago.)

Trading Expectations (BSX) For The Upcoming Trading Day Of Monday 1st

For the upcoming trading day on Monday, 1st we expect Boston Scientific Corporation to open at $68.58, and during the day (based on 14 day Average True Range), to move between $67.59 and $69.39, which gives a possible trading interval of +/-$0.90 (+/-1.32%) up or down from last closing price. If Boston Scientific Corporation takes out the full calculated possible swing range there will be an estimated 2.64% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at $68.62 (0.19%) than the support at $64.37 (6.02%), our systems don't find the trading risk/reward intra-day attractive and any bets should be held until the stock is closer to the support level.

Is Boston Scientific Corporation stock A Buy?

Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for Boston Scientific Corporation stock to perform well in the short-term. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Strong Buy to a Buy candidate.

Current score: 2.373 Buy Candidate Downgraded

Predicted Opening Price for Boston Scientific Corporation of Monday, April 1, 2024

Fair opening price April 1, 2024 Current price
$68.58 ( 0.129%) $68.49

The predicted opening price is based on yesterday's movements between high, low, and closing price.

Trading levels for BSX

Fibonacci Support & Resistance Levels

Level Price
Resistance R3 69.16 0.98 %
R2 68.94 0.657 %
R1 68.80 0.455 %
Current price: 68.49
Support S1 68.35 -0.197 %
S2 68.22 -0.399 %
S3 67.99 -0.725 %

Accumulated Volume Support & Resistance Levels

Level Price
Resistance R3 0 .
R2 0 .
R1 68.62 0.190 %
Current price 68.49
Support S1 64.37 -6.02%
S2 63.26 -7.64%
S3 59.92 -12.51%

FAQ

What is the symbol for Boston Scientific Corporation Stock and on which exchange is it traded?
The symbol for Boston Scientific Corporation is BSX and it is traded on the NYSE (New York Stock Exchange).

Should I buy or sell Boston Scientific Corporation Stock?
Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for Boston Scientific Corporation stock to perform well in the short-term. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Strong Buy to a Buy candidate.

How to buy Boston Scientific Corporation Stock?
Boston Scientific Corporation Stock can be purchased through just about any brokerage firm, including online brokerage services.
Click here for our free guide on how to buy Boston Scientific Corporation Stock.

What's the current price of Boston Scientific Corporation Stock?
As of the end of day on the 2024-03-28, the price of an Boston Scientific Corporation (BSX) share was $68.49.

What is the 52-week high and low for Boston Scientific Corporation Stock?
The 52-week high for Boston Scientific Corporation Stock is $68.92 and the 52-week low is $48.35.

What is the market capitalization of Boston Scientific Corporation Stock?
As of the 2024-03-28, the market capitalization of Boston Scientific Corporation is 100.482B.

When is the next earnings date for Boston Scientific Corporation?
The upcoming earnings date for Boston Scientific Corporation is Apr 24, 2024.
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About Boston Scientific Corporation

Boston Scientific Boston Scientific Corporation develops, manufactures, and markets medical devices for use in various interventional medical specialties worldwide. It operates through three segments: MedSurg, Rhythm and Neuro, and Cardiovascular. The company offers devices to diagnose and treat gastrointestinal and pulmonary conditions; devices to treat various urological and pelvic conditions; implantable cardioverter and implantable cardiac resynchronization th... BSX Profile

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