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SmarTrend Watching for Potential Pullback in Shares of Boston Scientific After 2.00% Gain

By James Quinn

Boston Scientific (NYSE:BSX) traded in a range yesterday that spanned from a low of $27.80 to a high of $28.33. Yesterday, the shares gained 2.0%, which took the trading range above the 3-day high of $28.09 on volume of 3.5 million shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.

SmarTrend recommended that subscribers consider buying shares of Boston Scientific on December 23rd, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $21.78. Since that recommendation, shares of Boston Scientific have risen 27.4%. We continue to monitor BSX for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

In the past 52 weeks, Boston Scientific share prices have been bracketed by a low of $14.18 and a high of $28.32 and are now at $28.30, 100% above that low price. Over the last five market days, the 200-day moving average (MA) has gone up 0.4% while the 50-day MA has advanced 2.0%.

Keywords: rebounders Boston SCientific

Ticker(s): BSX