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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 33.77 and 24.10. If the stock breaks down through support at 33.77 then it will probably continue lower to 24.10. The stock has resistance at 36.05 and at 37.95. If the stock breaks up through resistance at 36.05 then it will probably continue higher to 37.95. The 200-day moving average is at 37.52. 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 33.77 look for a rally to previous highs. The stock is extremely oversold according to the Stochastic Indicator (7.54).”
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