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Stock Investors Sell Off Shares of Boston Scientific, Down 1.9%

Published on Tue, 07/09/2013 - 12:34
By Robert Cotter

Boston Scientific (NYSE:BSX), a company whose shares are moving quickly, is trading 1.9% lower to $9.19. The S&P is currently trading 0.4% higher to 1,648 and the Dow Jones Industrial Average is trading 0.3% higher to 15,268.

In the past 52 weeks, Boston Scientific share prices have been bracketed by a low of $4.79 and a high of $9.75 and are now at $9.19, 92% above that low price. In the last five trading sessions, the 50-day moving average (MA) has climbed 0.9% while the 200-day MA has risen 0.5%.

Boston Scientific (NYSE:BSX) defies analysts with a current price ($9.19) 8.9% above its average consensus price target of $8.37. The stock should find initial support at its 50-day moving average (MA) of $8.90 and further support at its 200-day MA of $7.05.

Boston Scientific Corporation develops, manufactures, and markets minimally invasive medical devices. The Company's products are used in interventional cardiology, cardiac rhythm management, peripheral interventions, electrophysiology, neurovascular intervention, endoscopy, urology, gynecology and neuromodulation.

By Robert Cotter
rcotter@fnno.com