BSX pops to highest close since May 24, 2005


Boston Scientific (BSX) Technical Analysis Report for May 17, 2018 [< 1 min read]
Highlights
BSX unable to break through key resistance level
BSX closes higher for the 2nd day in a row
BSX pushes through previous session high
BSX rises to highest close since May 24, 2005
TQ Sentiment
Report Sentiment: 0% Neutral
Technical Forecast:
Overview

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.

Daily chart for BSX
Volatility

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.

Support/Resistance

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.

Trend

The trend is clearly bullish, showing an intact uptrend in the short, medium and long-term.

Conclusion

While classical technical analysis indicates a neutral sentiment for the next trading day, our quantitative statistics show a different picture being bullish.

Market Conditions for Boston Scientific
ConditionForecastDirectionWinAvgWorstBestEvents
Close to Swing Low TQ Pro Members Only
Black Candle TQ Pro Members Only
Bearish Short Candle TQ Pro Members Only
Close to Swing High TQ Pro Members Only
Low close to previous low TQ Pro Members Only
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