Boston Scientific (BSX): Uptrend Continuation as Bullish Signals Emerge
Welcome to our analysis of Boston Scientific (BSX), a leading medical technology company that is currently experiencing a potential uptrend continuation. According to A.I.dvisor's predictions, BSX has entered a bullish trend, suggesting a favorable outlook for the stock. In this blog post, we will delve into the indicators supporting this forecast and analyze historical data, which indicates a strong probability of BSX's uptrend continuing.
Boston Scientific (BSX) is currently experiencing a projected uptrend, as indicated by A.I.dvisor's analysis. The forecast suggests that BSX may witness a growth of approximately 4%, potentially reaching a price of $55.83 or even higher within the next month. This projection underscores the positive sentiment surrounding the stock and indicates a strong likelihood of the uptrend continuing.
Boston Scientific (BSX) is currently positioned in a monthly bullish trend, signaling a potential uptrend continuation. A.I.dvisor's analysis predicts growth in BSX's price within the next month, with statistical probabilities indicating an 82% chance of the uptrend continuing. Investors are advised to carefully evaluate their investment strategies, consider market dynamics, and consult with a qualified financial advisor before making any investment decisions.
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BSX in downward trend: price dove below 50-day moving average on May 26, 2023
BSX moved below its 50-day moving average on May 26, 2023 date and that indicates a change from an upward trend to a downward trend. In of 41 similar past instances, the stock price decreased further within the following month. The odds of a continued downward trend are .
Technical Analysis (Indicators)
Bearish Trend Analysis
The Momentum Indicator moved below the 0 level on May 23, 2023. You may want to consider selling the stock, shorting the stock, or exploring put options on BSX as a result. In of 97 cases where the Momentum Indicator fell below 0, the stock fell further within the subsequent month. The odds of a continued downward trend are .
The Moving Average Convergence Divergence Histogram (MACD) for BSX turned negative on May 17, 2023. This could be a sign that the stock is set to turn lower in the coming weeks. Traders may want to sell the stock or buy put options. Tickeron's A.I.dvisor looked at 46 similar instances when the indicator turned negative. In of the 46 cases the stock turned lower in the days that followed. This puts the odds of success at .
Following a 3-day decline, the stock is projected to fall further. Considering past instances where BSX declined for three days, the price rose further in of 62 cases within the following month. The odds of a continued downward trend are .
Bullish Trend Analysis
The RSI Indicator entered the oversold zone -- be on the watch for BSX's price rising or consolidating in the future. That's also the time to consider buying the stock or exploring call options.
The Stochastic Oscillator demonstrated that the ticker has stayed in the oversold zone for 2 days, which means it's wise to expect a price bounce in the near future.
Following a 3-day Advance, the price is estimated to grow further. Considering data from situations where BSX advanced for three days, in of 346 cases, the price rose further within the following month. The odds of a continued upward trend are .
BSX may jump back above the lower band and head toward the middle band. Traders may consider buying the stock or exploring call options.
The Aroon Indicator entered an Uptrend today. In of 320 cases where BSX Aroon's Indicator entered an Uptrend, the price rose further within the following month. The odds of a continued Uptrend are .
Fundamental Analysis (Ratings)
The Tickeron Profit vs. Risk Rating rating for this company is (best 1 - 100 worst), indicating low risk on high returns. The average Profit vs. Risk Rating rating for the industry is 85, placing this stock better than average.
The Tickeron PE Growth Rating for this company is (best 1 - 100 worst), pointing to consistent earnings growth. The PE Growth rating is based on a comparative analysis of stock PE ratio increase over the last 12 months compared against S&P 500 index constituents.
The Tickeron Price Growth Rating for this company is (best 1 - 100 worst), indicating steady price growth. BSX’s price grows at a higher rate over the last 12 months as compared to S&P 500 index constituents.
The Tickeron Valuation Rating of (best 1 - 100 worst) indicates that the company is slightly overvalued in the industry. This rating compares market capitalization estimated by our proprietary formula with the current market capitalization. This rating is based on the following metrics, as compared to industry averages: P/B Ratio (4.067) is normal, around the industry mean (25.189). P/E Ratio (85.470) is within average values for comparable stocks, (142.446). Projected Growth (PEG Ratio) (1.890) is also within normal values, averaging (5.611). Dividend Yield (0.000) settles around the average of (0.019) among similar stocks. P/S Ratio (5.580) is also within normal values, averaging (52.797).
The Tickeron SMR rating for this company is (best 1 - 100 worst), indicating slightly better than average sales and a considerably profitable business model. SMR (Sales, Margin, Return on Equity) rating is based on comparative analysis of weighted Sales, Income Margin and Return on Equity values compared against S&P 500 index constituents. The weighted SMR value is a proprietary formula developed by Tickeron and represents an overall profitability measure for a stock.
Notable companies
Industry description
Market Cap
High and low price notable news
Volume
Fundamental Analysis Ratings
The average fundamental analysis ratings, where 1 is best and 100 is worst, are as follows
General Information
a maker of medical devices
Industry MedicalSpecialties
BSX and
Correlation & Price change
A.I.dvisor indicates that over the last year, BSX has been closely correlated with SYK. These tickers have moved in lockstep 72% of the time. This A.I.-generated data suggests there is a high statistical probability that if BSX jumps, then SYK could also see price increases.
| Ticker / NAME | Correlation To BSX | 1D Price Change % | ||
|---|---|---|---|---|
| BSX | 100% | -1.12% | ||
| SYK - BSX | 72% Closely correlated | -0.40% | ||
| ZBH - BSX | 69% Closely correlated | -0.96% | ||
| ABT - BSX | 67% Closely correlated | -1.13% | ||
| MMSI - BSX | 63% Loosely correlated | N/A | ||
| ISRG - BSX | 63% Loosely correlated | +0.06% | ||
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