Hey Everyone,
The market has been doing so crazy things the last year. Here is a company that seems to be handling market turmoil
well. BSX has recently retraced from the ATH of 47ish @ share. My personal view of BSX in the next couple of months are the following.
in the next 2 weeks I anticipate that BSX will retrace to the 43 @ share level. I judge this off the fact that MACD has just crossed on the daily. Especially after reaching an ATH. The 43 level is the .618 retracement level, as well as the 50day moving average (roughly). RSI has also been on the overbought level for the majority of the fourth quarter. I think They will be affected by 1st quarter earnings as many companies will with rates and everything else consumer and so forth..
But I think once that's priced in, it's off to 50.
BSX has also been going up since late Sept and unless the trend gets broken, I believe it will continue to go up and level out at around the 50-55 range. 43 seems to be really strong support so at the very least it will trade sideways while the rest of the market tanks.
The market has been doing so crazy things the last year. Here is a company that seems to be handling market turmoil
well. BSX has recently retraced from the ATH of 47ish @ share. My personal view of BSX in the next couple of months are the following.
in the next 2 weeks I anticipate that BSX will retrace to the 43 @ share level. I judge this off the fact that MACD has just crossed on the daily. Especially after reaching an ATH. The 43 level is the .618 retracement level, as well as the 50day moving average (roughly). RSI has also been on the overbought level for the majority of the fourth quarter. I think They will be affected by 1st quarter earnings as many companies will with rates and everything else consumer and so forth..
But I think once that's priced in, it's off to 50.
BSX has also been going up since late Sept and unless the trend gets broken, I believe it will continue to go up and level out at around the 50-55 range. 43 seems to be really strong support so at the very least it will trade sideways while the rest of the market tanks.