BSX pops to highest close since May 24, 2005
Boston Scientific (BSX) Technical Analysis Report for May 17, 2018
Moving higher for the 2nd day in a row, BSX ended Thursday at 30.32 gaining $0.35 (1.17%). Today's closing price of 30.32 marks the highest close since May 24, 2005. Closing above Wednesday's high at 30.16, the market confirms its breakout through the prior session's high having traded $0.33 above it intraday.
Thursday's trading range was $0.65 (2.17%), that's slightly above last trading month's daily average range of $0.59. Things look different on a weekly scale, where volatility is slightly below the markets average with the monthly volatility being slightly below average.
Unable to break through the key technical resistance level at 30.41, the stock closed below it after spiking as high as 30.49 during the day. The failure to close above the resistance could increase that levels importance as resistance going forward.
The trend is clearly bullish, showing an intact uptrend in the short, medium and long-term.
While classical technical analysis indicates a neutral sentiment for the next trading day, our quantitative statistics show a different picture being bullish.
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