Boston Scientific Corporation (#BSX), doing business as Boston Scientific, is a manufacturer of medical devices used in interventional medical specialties.
#BSX has been trading on a downward trend since the beginning of September however it is only recently that got our attention.
On the 29 October 2020 the stock felt till $ 33.00, this level has been re-tested recently however we notice a major change from a technical perspective.
From a technical standpoint #BSX is reporting a divergence between RSI and Price, in addition the MACD is sloping up leading us to think that a move to the upside is imminent.
The MACD, still below 0, correctly describe the negative momentum: we expect for the near future to retest the upper end of the downward channel at $ 36.50.
Buy price: $ 33.69
1st target: $ 35.00
2nd target: $ 36.00
Stop loss: $ 32.80
OTB Global Investments
2 December 2020
Comments