Boston Scientific Corporation (BSX) develops, manufactures & markets medical devices for use in various interventional medical specialties worldwide. It operates through MedSurg & Cardiovascular segments. It offers devices to diagnose & treat different medical conditions and offer remote patient management systems. It is based in Marlborough, US, comes under Healthcare sector & trades as “BSX” ticker at NYSE.
BSX favors upside in impulse sequence started from March-2020 low & trading at all time high. It expects short term upside within the sequence from October-2023 low to finish the wave I. Later, it expect to correct in II as long as the momentum divergence remains intact.
BSX – Elliott Wave Latest Weekly View: 
Above (II) low of $24.10, it favors higher in I of (III) as impulse sequence. It placed ((1)) of III at $47.49 high in April-2022 as diagonal sequence & corrected lower in ((2)) at $34.98 low as 0.5 Fibonacci retracement of ((1)). It extends higher in ((3)), which ended at $55.38 high in September-2023. Within ((3)), it placed (1) at $43.52 high, (2) at $37.74 low, (3) at $54.74 high, (4) at $49.69 low and finally (5) as ((3)) at $55.38 high. It ended ((4)) at $48.35 low on 10.13.2023 low as slightly above 0.382 Fibonacci retracement of ((3)).
Currently, it favors higher in ((5)) of I as it broke above ((3)) high & expect further upside towards $57.05 – $59.75 area as possible minimum extension to finish I before it may correct in II sequence as long as high comes with momentum divergence. Alternatively, if it extends higher & erase the momentum divergence, then it can be the part of ((3)) of I, expecting further upside within I. We like to buy the pullback in 3, 7 or 11 swings in II at extreme areas against (II) low.
Elliottwave Forecast updates 1-hour charts four times a day & 4-hour charts once a day for all our 78 instruments. We do a daily live session, where we guide our clients on the right side of the market. In addition, we have a chat room where our moderators will help you with any questions you have about what is happening in the market at the moment. You can try us for 14 days for only $9.99.
Back