Boston Scientific Corporation develops, manufactures, and markets
medical devices for use in various interventional medical specialties
worldwide. The company operates in three segments: Cardiovascular,
Rhythm Management, and MedSurg. It offers interventional cardiology
products, including coronary stent systems used in the treatment of
coronary artery disease; coronary technology products to treat
atherosclerosis; intraluminal catheter-directed ultrasound imaging
catheters and systems for use in coronary arteries and heart chambers,
as well as peripheral vessels; and structural heart therapy systems. The
company also provides stents, balloon catheters, wires, peripheral
embolization devices, and vena cava filters to diagnose and treat
peripheral disease; and biliary stents, drainage catheters, and
micro-puncture sets to treat, diagnose, and ease benign and malignant
tumors.
Take a look at the 1-year chart of Boston (NYSE: BSX) below with my added notations:
Over the last 8 months BSX has been trending consistently higher,
while also forming a nice trend line of support (green). Always remember
that any (2) points can start a trend line, but it’s the 3rd test and
beyond that confirm its relevance. As you can see, the market deems
BSX’s trendline to be very important. In addition, the stock also has a
52-week high level of resistance at $18.50 (red).
The Tale of the Tape: BSX has a trend line support
and an $18.50 resistance. A long position could be entered on a break
above $18.50, or on a pullback to the trendline, with a stop placed
below the level of entry. A short position could be entered if BSX were
to break below its trendline.
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