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TMCNet:  Next Support Level for Boston Scientific (BSX) is $5.59

[December 27, 2012]

Next Support Level for Boston Scientific (BSX) is $5.59

Dec 27, 2012 (SmarTrend(R) News Watch via COMTEX) -- Boston Scientific (NYSE:BSX) has opened bearishly below the pivot of $5.71 today and has reached the first level of support at $5.65. Should the shares continue to fall, the support pivots of $5.59 and $5.47 will be of interest.

In the past 52 weeks, Boston Scientific share prices have been bracketed by a low of $4.79 and a high of $6.41 and are now at $5.62, 17% above that low price. The 200-day and 50-day moving averages have moved 0.04% lower and 0.12% higher over the past week, respectively.

Boston Scientific (NYSE:BSX) has potential upside of 15.3% based on a current price of $5.62 and analysts' consensus price target of $6.48. The stock should find resistance at its 200-day moving average (MA) of $5.66, as well as support at its 50-day MA of $5.45.

SmarTrend is tracking the current trend status for Boston Scientific and will alert subscribers who have BSX in their portfolio or watchlist when shares have changed trend direction.

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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