TMCNet:  Boston Scientific (BSX) Breaks Through Resistance at $7.35

[February 22, 2013]

Boston Scientific (BSX) Breaks Through Resistance at $7.35

Feb 22, 2013 (SmarTrend(R) News Watch via COMTEX) -- Shares of Boston Scientific (NYSE:BSX) opened today above their pivot of $7.26 and have already reached the first level of resistance at $7.35. Investors may be interested in a cross of the next upside pivot targets of $7.44 and $7.63.


Boston Scientific share prices have moved between a 52-week high of $7.73 and a 52-week low of $4.79 and are now trading 53% above that low price at $7.33 per share. Over the last five market days, the 200-day moving average (MA) has gone up 0.3% while the 50-day MA has advanced 1.6%.

Boston Scientific (NYSE:BSX) has potential upside of 5.3% based on a current price of $7.33 and analysts' consensus price target of $7.72. The stock should find initial support at its 50-day moving average (MA) of $6.58 and further support at its 200-day MA of $5.83.

SmarTrend recommended that subscribers consider buying shares of Boston Scientific on November 26th, 2012 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $5.73. Since that recommendation, shares of Boston Scientific have risen 26.8%. We continue to monitor BSX for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Write to Chip Brian at cbrian@mysmartrend.com --------------------------------------------------------------------------------------------- SmarTrend analyzes over 5,000 securities simultaneously throughout the trading day and provides its subscribers with trend change alerts in real time. To get a free trial of our trading calls and maximize your trading results, please visit http://www.MySmarTrend.com Get exclusive, actionable insight into how the market is expected to trend prior to market open with our free morning newsletter. Sign up at: http://www.MySmarTrend.com/signup

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