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Boston Scientific is a leader in producing less-invasive medical devices used in treatments like angioplasty, cardiac rhythm management, blood clot filtration, interventional oncology, and other such important treatments. The firm has a well-diversified revenue base with 50% coming from the US and 50% from international markets. An increasing focus on healthcare globally along with Boston Scientific’s strong brand within the medical community positions the company well for long-term growth.
The long term monthly chart for Boston Scientific demonstrates a consistent 7-year uptrend which peaked in early 2020. Since then, the stock fell almost 30% in the first three months of the year. It has since found support at the bottom of the long-term trend with the most recent bounce up being in the current month of December 2020. A stop loss can be placed below the bottom trend line, at around 32 and target prices of 38 and 42 can be estimated for a long position.
Position entered ro our long term tracking portfolio today. The entry point is at $34.22 and stop loss $29 which is 15% below entry point. The short-term to medium take profit is set at $48 giving a profit of 40%.
On the video and images above you will see the reason this stock was selected.
You will see the image is of a monthly chart of the stock showing the long-term upwards trend formed over the years. You will also see the entry point and the where the stop loss is placed. For more information please watch the video given.
Once it is time to move the original stop loss up you will see an additional image.
If you are interested in purchasing the above stock please click here to view some trading platforms.
Information is provided ‘as-is’ and solely for informational purposes. Data provided mostly by way of video and images are of actions that have already taken place and are not for trading purposes or advice.
Stock Prices End-of-Day. Information is provided solely for informational purposes, not for trading purposes or advice, and is delayed.
