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Shares of Boston Scientific Rise Above Previous 52-Week High

By Amy Schwartz

Shares of Boston Scientific (NYSE:BSX) traded at a new 52-week high today of $19.87. Approximately 1.2 million shares have changed hands today, as compared to an average 30-day volume of 8 million shares.

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.

Over the past year, Boston Scientific has traded in a range of $14.18 to $19.87 and is now at $19.77, 39% above that low. In the last five trading sessions, the 50-day moving average (MA) has climbed 1.0% while the 200-day MA has risen 0.2%.

Boston Scientific (NYSE:BSX) has potential upside of 5.5% based on a current price of $19.77 and analysts' consensus price target of $20.85. The stock should discover initial support at its 50-day moving average (MA) of $18.27 and subsequent support at its 200-day MA of $17.69.

SmarTrend recommended that subscribers consider buying shares of Boston Scientific on March 14th, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $18.01. Since that recommendation, shares of Boston Scientific have risen 9.6%. We continue to monitor BSX for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: 52 week high/lows Boston SCientific

Ticker(s): BSX