Boston Scientific Continues To Be A Hot Stock
Kay Kim | Apr 04, 2016 05:55PM ET
On my previous article ("Hot Stock To Watch: Boston Scientific (NYSE:BSX)"), we talked about the long-term perspectives of how this stock has been well-cultivating primary-term uptrend. About five months later today, we can see that the stock is still respecting the primary-term uptrend and moving higher.
Historical Perspective (Monthly)
Primary-Term Uptrend (Weekly-Chart)
First we can see that rising uptrend-support (yellow-dotted) is well-established and respected, meaning primary-term uptrend is healthy as of today. I have circled (in red) the points of breakout after it hits the resistance level. Stocks will pullback and see volatile-sideways movement, but as long as it cultivates healthy uptrend, stock is heading higher like the movement we've been seeing since the year 2013 on this stock. It looks like $21-$22 is where its headed.
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