Boston Scientific Corp (BSX, $51.06): Riding the Wave of a Monthly Bullish Trend
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Boston Scientific Corp (BSX, $51.06) is making waves in the market as it enters a monthly bullish trend, indicating the potential for an Uptrend continuation. A.I.dvisor's prediction suggests that the stock is expected to grow by 4% to $53.10 or more within the next month. This presents an exciting opportunity for investors to capitalize on the company's upward momentum.
Today, Boston Scientific Corp's stock has traded between $50.75 and $51.53, demonstrating a steady performance. While volume remains light, with 4,032,198 shares traded compared to the average volume of 10,238,066 shares, the stock's bullish trend suggests positive investor sentiment and potential growth in the near future.
Boston Scientific Corp (BSX) stands out in the medical devices' industry, earning a high ranking of 98 in the Investors Observer's industry group rating. With an overall rating of 76, Boston Scientific Corp surpasses 76% of stocks, highlighting its strong performance relative to its peers. In the competitive landscape of medical devices, the company secures an impressive position at number 30 out of 148 industries.
The company's success is attributed to its dedication to innovation and the development of cutting-edge medical technologies. Boston Scientific Corp's commitment to advancing patient care through breakthrough solutions has established it as a trusted leader in the industry. With a broad range of medical devices and solutions, the company addresses critical healthcare needs and delivers value to healthcare providers and patients worldwide.
As Boston Scientific Corp enters a monthly bullish trend, investors can have confidence in the potential for Uptrend continuation. By analyzing historical scenarios where the stock trended up during the month, A.I.dvisor estimates the odds of an Uptrend continuation at 88%. While past performance is not indicative of future results, this information can guide investors in making informed decisions aligned with their investment goals.
Investors interested in capitalizing on Boston Scientific Corp's positive momentum should stay informed about relevant market updates and company-specific news. Monitoring key indicators and industry trends will enable investors to navigate the dynamic market landscape and make strategic investment choices.
As Boston Scientific Corp (BSX) rides the wave of a monthly bullish trend, investors have an exciting opportunity to participate in the anticipated Uptrend continuation. With a positive growth projection and a strong position in the competitive medical devices industry, Boston Scientific Corp showcases its potential for sustained success and provides an attractive option for investors seeking to maximize their returns.
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Momentum Indicator for BSX turns negative, indicating new downward trend
BSX saw its Momentum Indicator move below the 0 level on September 22, 2023. This is an indication that the stock could be shifting in to a new downward move. Traders may want to consider selling the stock or exploring put options. Tickeron's A.I.dvisor looked at 99 similar instances where the indicator turned negative. In of the 99 cases, the stock moved further down in the following days. The odds of a decline are at .
Technical Analysis (Indicators)
Bearish Trend Analysis
The 10-day RSI Indicator for BSX moved out of overbought territory on September 12, 2023. This could be a bearish sign for the stock. Traders may want to consider selling the stock or buying put options. Tickeron's A.I.dvisor looked at 34 similar instances where the indicator moved out of overbought territory. In of the 34 cases, the stock moved lower in the following days. This puts the odds of a move lower at .
The Moving Average Convergence Divergence Histogram (MACD) for BSX turned negative on September 15, 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 47 similar instances when the indicator turned negative. In of the 47 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 .
BSX broke above its upper Bollinger Band on August 28, 2023. This could be a sign that the stock is set to drop as the stock moves back below the upper band and toward the middle band. You may want to consider selling the stock or exploring put options.
Bullish Trend Analysis
The Stochastic Oscillator suggests the stock price trend may be in a reversal from a downward trend to an upward trend. of 51 cases where BSX's Stochastic Oscillator exited the oversold zone resulted in an increase in price. Tickeron's analysis proposes that the odds of a continued upward trend are .
BSX moved above its 50-day moving average on August 28, 2023 date and that indicates a change from a downward trend to an upward trend.
The 10-day moving average for BSX crossed bullishly above the 50-day moving average on September 01, 2023. This indicates that the trend has shifted higher and could be considered a buy signal. In of 16 past instances when the 10-day crossed above the 50-day, the stock continued to move higher over the following month. The odds of a continued upward trend are .
Following a 3-day Advance, the price is estimated to grow further. Considering data from situations where BSX advanced for three days, in of 341 cases, the price rose further within the following month. The odds of a continued upward trend are .
The Aroon Indicator entered an Uptrend today. In of 303 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 89, placing this stock better than average.
The Tickeron PE Growth Rating for this company is (best 1 - 100 worst), pointing to outstanding 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 outstanding 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 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.
The Tickeron Valuation Rating of (best 1 - 100 worst) indicates that the company is significantly 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 (4.322) is normal, around the industry mean (24.932). P/E Ratio (89.286) is within average values for comparable stocks, (79.196). Projected Growth (PEG Ratio) (1.667) is also within normal values, averaging (6.230). Dividend Yield (0.000) settles around the average of (0.019) among similar stocks. P/S Ratio (5.807) is also within normal values, averaging (58.009).
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 loosely correlated with SYK. These tickers have moved in lockstep 61% of the time. This A.I.-generated data suggests there is some statistical probability that if BSX jumps, then SYK could also see price increases.
| Ticker / NAME | Correlation To BSX | 1D Price Change % | ||
|---|---|---|---|---|
| BSX | 100% | -1.80% | ||
| SYK - BSX | 61% Loosely correlated | -4.81% | ||
| ZBH - BSX | 61% Loosely correlated | -4.17% | ||
| ISRG - BSX | 58% Loosely correlated | -0.86% | ||
| ABT - BSX | 54% Loosely correlated | -1.27% | ||
| RVTY - BSX | 52% Loosely correlated | -1.76% | ||
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