Shares of Boston Scientific (NYSE:BSX) have bullishly opened above the pivot of $5.99 today and have reached the first resistance level of $6.06. Analysts will be watching for a cross of the next upside pivot targets of $6.14 and $6.29.

Over the past year, Boston Scientific has traded in a range of $4.79 to $6.41 and is now at $6.06, 27% above that low. The 200-day and 50-day moving averages have moved 0.03% lower and 0.73% higher over the past week, respectively.

There is potential upside of 7.7% for shares of Boston Scientific based on a current price of $6.06 and an average consensus analyst price target of $6.53. The stock should discover initial support at its 200-day moving average (MA) of $5.66 and subsequent support at its 50-day MA of $5.50.

SmarTrend recommended that subscribers consider buying shares of Boston Scientific on November 26th, 2012 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $5.73. Since that recommendation, shares of Boston Scientific have risen 4.5%. We continue to monitor BSX for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.