Boston Scientific Corporation (BSX)

BSX stock forecast: buy or sell

BSX stock outlook

  • Boston Scientific stock only changed -0.14% to close at $34.50 on the stock market today, after 3 consecutive sessions in negative.
  • Boston Scientific Corporation develops, manufactures, and markets medical devices for use in various interventional medical specialties worldwide.
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Important:
The thoughts published in this post are personal and should not be followed as recommendations for you to buy or sell stocks. The author of this article does not know the individual circumstances of the reader, his or her own financial statements or what is in his or her best interest at any given time. All users should speak with their financial advisor before buying or selling any securities Comments are posted for education reasons only

BSX stock chart overview

Should I buy Boston Scientific stock?

All successful traders recommend adhering to a trading strategy and not make decisions based on subjective opinions, rumors or feelings. Trading strategies are meant for helping you in the decision process of what stocks to pick and when is the best moment to buy them. At Stocks2.com, we like to use very simple but trusted and powerful trend following trading strategies. Simple things usually work the best

Is BSX stock a buy?

In the current situation of Boston Scientific there is not any eligible buy setup. This doesn't mean BSX will slide in coming sessions, or it will not rise higher. Simply, it doesn't match our recommended trading systems

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Should I sell Boston Scientific stock?

"To sell or not to sell", if you are holding Boston Scientific shares?. Much like when we have to buy shares, determining when is appropiate time to sell is not a fickle decision, and we must adhere our own trading strategy. When selling, as well as buying, our setups are very simple to use and are only valid for selling stocks in your porfolio, not for selling short Boston Scientific stock

As a rule of thumb, you must never hold a trading operation that results in greater losses than those expected at the time of purchase. When to sell your stock must always be dictated by the stop-loss (automatic or manual)

Is it time to sell Boston Scientific stock?

In the current situation of Boston Scientific there is not any eligible sell setup, so Boston Scientific stock holders with operations in profit can keep their positions

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Analysts' recommendations to buy or sell Boston Scientific stock

Brokerage firms and financial institutions post stock ratings based on their views of the market and the fundamental and technical situation of the analyzed stock. Unfortunately, the accuracy of these predictions is not very high, and certainly not a direct buy or sell signal

We don't have any rating published in the previous 30 days for Boston Scientific

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Technical analysis

SMAs overview

A favorite tool of many technical analysts are the moving averages, that easily show market momentum. A moving average is calculated as the simple mean of the previous N periods (usually sessions). Moving averages are usually calculated on different periods depending on the trading timeframe 21, 50, 100 and 200 days are the most usual moving averages

Supports and resistances

Technical analysts use support and resistance levels to identify price points on a chart that tend to work as obstacles, preventing the price of shares to move up or down. A support level is a level where the price may stop as it falls. This means that the price is more likely to "rebound" this level rather than break through it. Nevertheless, if the price breaks down this level, it is likely to continue descending until approaching another support level. On the contrary, resistances are where the price tends to find resistance as it rises. Likewise, the price is more likely to "bounce off" at this level, and if it finally breaches this level, it will rise more easily until it finds the next resistance

The current resistance levels are:

  • R1: $34.63 (0.38% above)
  • R2: $34.74 (0.7% above)
  • R3: $37.10 (7.54% above)
  • The current support levels are:

  • S1: $34.37 (-0.38% below)
  • S2: $34.35 (-0.43% below)
  • S3: $34.22 (-0.81% below)
  • Bollinger bands

    This is an indicator that was introduced in the 1980s by John Bollinger. It consists of 3 bands that are drawn superimposed on the price evolution chart:

    • The central band is a moving average, usually a simple moving average calculated with 20 periods
    • The upper band is calculated by adding to the value of the simple moving average 2 times the standard deviation of the moving average
    • The lower band is calculated by subtracting from the simple moving average 2 times the standard deviation of the moving average

    Since the price broke down the lower band on June 26, the price bounced off by 4.26%

    Relative strength index

    The RSI (Relative Strength Index) is an oscillator-type indicator that track price action to reveal when the share or financial asset is overbought or oversold. Like other oscillation indicators, the RSI fluctuates from 0% to 100%. J. Welles Wilder introduced the relative strength indicator in the late 1970s and since then it has been widely used by traders

    When the Relative Strength Indicator (RSI) moves for so long below 70 and above 30, without indicating moments of overbought and oversold, the indicator loses its usefulness, and we are currently in such a case.

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    Earnings and financials

    Boston Scientific Corporation (BSX) posted adjusted EPS for the fiscal 1st-quarter that undercut Market expectations. Quarterly EPS was $0.28 per share from an estimated $0.33. This quarterly report means an earnings surprise of -15.15%. On the contrary, the company said revenue for Q1 was $2.5 billion consistent with the market estimates.

    Compared to the same quarter last year, EPS was $0.35, so current EPS is a reduction of -20%. Sales merely moved on an annualized basis in the first-quarter, from $2.5B to $2.5B last quarter.

    BSX presents quarterly earnings report on late next July. Analysts estimate earnings of %s a share of $-0.03, that is a 110.71% lower than Q1. Earnings reporting day has an additional risk for stock traders as the results published can jump up or down the stock price with exceptionally low liquidity and not honouring your buy/stop-loss orders. You can probably find more details about the earnings call and the financial reports on the Investor Relations section of its website: http://www.bostonscientific.com.

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