BSX finds buyers again around 37.15
Boston Scientific Corporation (BSX) Technical Analysis Report for Sep 14, 2018 | by Techniquant Editorial Team
BSX finished the week 4.3% higher at 37.39 after losing $0.23 (-0.61%) today. Closing within the prior day's range, prices failed to decisively move beyond the previous day's trading range in a lackluster session. Ending the day with an indecisive close, neither buyers nor sellers were able to gain control during the session.
Daily Candlestick Chart (BSX as at Sep 14, 2018):
Friday's trading range was $0.41 (1.1%), that's below last trading month's daily average range of $0.50. Things look different on a weekly scale, where volatility is above the markets average with the monthly volatility being above average.
During the whole day, prices traded within the prior day's range, unable to trade above the previous day's high or below the prior day's low forming an Inside Bar. After moving higher in the previous session, Boston Scientific closed lower but above the prior day's open today, forming a bearish Harami Candle.
Prices are trading close to the key resistance level at 37.72. After having been unable to move lower than 37.09 in the previous session, the market found buyers again around the same price level today at 37.15.
The trend is clearly bullish, showing an intact uptrend in the short, medium and long-term.
Buying might accelerate should prices move above the close-by swing high at 37.72 where further buy stops could get triggered.