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Boston Scientific Corporation (BSX) “On a long-term technical basis, the stock (BSX) is trading below its 200-day moving average which generally implies it is in a negative trend.
The stock has support at 28.72 and 24.10. If the stock breaks down through support at 28.72 then it will probably continue lower to 24.10. The stock has resistance at 34.10 and at 36.53. If the stock breaks up through resistance at 34.10 then it will probably continue higher to 36.53. The 200-day moving average is at 39.24. This will also act as resistance. However, the stock has broken out of its long-term downtrend according to the fibonacci fan, which is significant. If the stock can form new support above 28.72 look for a rally to previous highs. The stock is extremely oversold according to the Stochastic Indicator (24.57).”
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