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Boston Scientific (BSX) Approaches New Upside Target of $6.14

Published on Tue, 01/08/2013 - 13:37
By Peter Chu

Boston Scientific (NYSE:BSX) has opened bullishly above the pivot of $5.99 today and has reached the first level of resistance at $6.06. Should the shares continue to rise, the resistance pivots of $6.14 and $6.29 will be of interest.

There is potential upside of 7.3% for shares of Boston Scientific based on a current price of $6.08 and an average consensus analyst price target of $6.53. The stock should find initial support at its 200-day moving average (MA) of $5.66 and further support at its 50-day MA of $5.50.

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.

Boston Scientific share prices have moved between a 52-week high of $6.41 and a 52-week low of $4.79 and are now trading 27% above that low price at $6.08 per share. Over the past week, the 200-day moving average (MA) has remained constant while the 50-day MA has advanced 0.7%.

By Peter Chu