• Investing
  • Stock
Round Table Thoughts
  • Economy
  • Editor’s Pick
Home Stock Boston Scientific’s Record Surge: Here’s How I Found It
Stock

Boston Scientific’s Record Surge: Here’s How I Found It

by January 9, 2025
by January 9, 2025 0 comment
Share
0
FacebookTwitterPinterestWhatsapp

The market sometimes struggles to find direction, as it digests mixed yet impactful economic data. Wednesday was one of those days. With US 10-Year Treasury yields rising and FOMC minutes highlighting inflation concerns, major indexes swung lower, then higher, before closing mixed: the Dow ($INDU) and S&P 500 ($SPX) edged up, while the Nasdaq Composite ($COMPQ) ended in the red.

Amid the back-and-forth, there are several tools you can use to find stocks that may be of interest, depending on your angle of approach. I was interested in finding stocks that bucked market indecision, specifically those that notched all-time or 52-week highs.

Using the StockCharts New Highs tool, one of the Dashboard panels, I observed that Boston Scientific Corp (BSX) occupied the top spot.

FIGURE 1. NEW HIGHS TOOL. BSX defied the market’s turbulence, reaching a record high.Image source: StockCharts.com. For educational purposes.

Though not one of the flashier stocks on Wall Street, you’ve likely heard of BSX, or you may be familiar with some of the products it manufactures. Still, it doesn’t hurt to get a snapshot of its technical and fundamental profile. Here you can use the StockCharts Symbol Summary tool for a quick analysis.

FIGURE 2. TOP SECTION OF THE SYMBOL SUMMARY PAGE FOR BSX. It may not be the “sexiest” stock, but it’s a “solid” one.Image source: StockCharts.com. For educational purposes.

The stock has a sizable market cap and liquidity, making it tradable for those interested in the stock. If you scroll down, the summary, you’ll find that despite a few quarters of earnings misses, it has a solid history of topping revenue expectations. (The summary offers much more detailed technical and fundamental data, so I encourage you to explore it thoroughly.)

A closer look at BSX reveals its innovative product portfolio, strategic acquisitions, robust financials, strong market position, and favorable analyst expectations—all pointing to a “solid” company with promising growth potential.

Let’s look at a weekly chart for a big-picture view of its historical price action.

FIGURE 3. WEEKLY CHART OF BSX. The stock has outperformed the healthcare sector (XLV) and the S&P 500 since 2022.Chart source: StockCharts.com. For educational purposes.

BSX’s solid uptrend began toward the end of 2022. It began outpacing the S&P 500 earlier that year and the Health Care sector (using the Health Care Select Sector SPDR ETF XLV) later that summer. Its relative price performance shows that it’s outperforming the sector by over 107% and the broader market by roughly 80%.

Notice that price surge in the last bar? That was due to a major acquisition (it purchased Bolt Medical) and a competitor’s, Johnson & Johnson (JNJ), product suspension benefiting BSX. As far as fundamental projections are concerned, they vary, as with most stocks. Nevertheless, for those interested in adding BSX stock to your portfolio, it’s best to decide on a favorable entry point. For that, you need to look at the daily chart.

FIGURE 4. DAILY CHART OF BSX. Note the runaway gap that will likely get filled, signaling a potential buying opportunity.Chart source: StockCharts.com. For educational purposes.

The stock has been experiencing an extended period. Note that the 50-, 100-, and 200-day Exponential Moving Averages are all in “full-sail,” indicating the strength of BSX’s years-long uptrend.

BSX’s news-driven runaway gap is likely to be filled as bullish sentiment moderates. Plus, the Money Flow Index (MFI), which considers volume and momentum, has been declining from “overbought” levels (top panel), showing a slight bearish divergence that adds to the case for a near-term pullback.

As price pulls back, the 50-, 100-, and 200-day EMAs should provide clear support levels; each EMA presenting a potential entry point for those looking to go long.

The chart also plots a Bullish Percent Index (BPI) for the healthcare sector ($BPHEAL) in the bottom panel. Why plot this when BSX is the clear outlier and outperformer? You will want to monitor breadth to assess the overall sector context regardless of BSX’s performance. For instance, if the sector is undergoing a bullish rotation, such a tide tends to lift most stocks within that sector, including BSX.

In the case above, the healthcare BPI shows that the sector has risen above “oversold” levels (the 30% line) as 42% of stocks in the sector are exhibiting P&F buy signals. BPI favors the bulls when the line exceeds 50%. So, while BSX is outperforming the sector, the proverbial tides appear to be turning in BSX’s favor.

Action Steps

If you’re looking to add BSX to your portfolio, consider the following action steps:

Add BSX to your ChartLists to monitor the stock, using the indicators suggested above.Monitor BSX’s price action in light of any developments that may affect it, as the gap and surge in price were heavily news-driven.Look to the EMAs as potential support levels and entry points.Keep an eye on market breadth to assess how sector performance may (or may not) affect the stock’s performance in the near-to-intermediate term.

At the Close

StockCharts’ New Highs Tool is an invaluable resource for spotting standout stocks. In the case above, the tool highlighted BSX as a stock that defied broader market uncertainty, providing a strong starting point for deeper analysis.

While healthcare may not currently rank among the most bullish sectors, BSX has been bucking this trend, rising steadily for the last two and a half years. Its outperformance — driven by acquisitions and competitor setbacks — suggests it could continue to grow, making it a compelling candidate for investment. Additionally, if the healthcare sector eventually turns bullish, it may provide an opportunity to jump into the sector during the early stages of a bullish rotation.

Disclaimer: This blog is for educational purposes only and should not be construed as financial advice. The ideas and strategies should never be used without first assessing your own personal and financial situation, or without consulting a financial professional.

You Might Also Like
  • Is Inflation Permanently “Dissed”?
  • Keeping Up With The Jones – How Weakness in This Index May Foretell a Broader Market Correction
  • Stocks Plunge with Key Earnings on Tap
  • Stocks in Focus: 3 Stocks to Watch
Share
0
FacebookTwitterPinterestWhatsapp

previous post
Tariff threat looms over the year’s biggest electronics show
next post
Dockworkers union, port companies reach tentative 6-year deal

You may also like

The Ord Oracle March 21, 2023

March 23, 2023

The Halftime Show: What’s the Fed’s Next Move? Here’s One...

August 14, 2023

Managing Fear and Expectations

March 23, 2023

Higher Gold Price Coming, But Investors Must Be Patient

January 30, 2024

Latest Interview

January 4, 2024

Low Vol To High Beta Stock Rotation Is Surging

July 14, 2023

DP Trading Room: Two Bullish Industry Groups

August 22, 2023

5 Stocks To Save The Planet

January 21, 2023

An Indicator to Reduce Whipsaws and Ride Trends

September 14, 2024

The Ord Oracle October 10, 2023

October 11, 2023

    Stay updated with the latest news, exclusive offers, and special promotions. Sign up now and be the first to know! As a member, you'll receive curated content, insider tips, and invitations to exclusive events. Don't miss out on being part of something special.


    By opting in you agree to receive emails from us and our affiliates. Your information is secure and your privacy is protected.

    Recent Posts

    • Nvidia results spark global chip rally

      May 30, 2025
    • Boeing to resume airplane deliveries to China next month, ramp up Max production, CEO says

      May 29, 2025
    • Nuclear Power Trio: OKLO, SMR, and CCJ in Focus

      May 29, 2025
    • Analyzing SIL, USO, and NVDA: Could These Bullish Patterns Trigger?

      May 29, 2025
    • E.l.f. Beauty to acquire Hailey Bieber skin care brand Rhode in up to $1 billion deal

      May 29, 2025

    Popular Posts

    • 1

      Trump-era China sanctions ended by Biden may be...

      June 27, 2024 2,764 views
    • 2

      Walz’s honeymoon with China gets fresh scrutiny as...

      August 9, 2024 2,470 views
    • 3

      Biden appointee played key role in recruiting Chinese...

      June 25, 2024 2,450 views
    • 4

      Shein’s global ambitions leaves some cybersecurity experts fearful...

      July 10, 2024 2,429 views
    • 5

      Harris VP pick spent years promoting research facility...

      August 29, 2024 2,307 views

    Categories

    • Economy (7,009)
    • Editor's Pick (2,104)
    • Investing (538)
    • Stock (2,578)

    Popular Posts

    • 1

      Trump-era China sanctions ended by Biden may be revived under new House GOP bill

      June 27, 2024
    • 2

      Walz’s honeymoon with China gets fresh scrutiny as Harris camp blasts ‘lying’ critics

      August 9, 2024
    • 3

      Biden appointee played key role in recruiting Chinese businesses to Delaware: ‘Longtime friends’

      June 25, 2024
    • 4

      Shein’s global ambitions leaves some cybersecurity experts fearful of Chinese spy threats

      July 10, 2024
    • 5

      Harris VP pick spent years promoting research facility that collaborated with ‘Chinese military company’

      August 29, 2024

    Latest News

    • Nvidia results spark global chip rally

      May 30, 2025
    • Boeing to resume airplane deliveries to China next month, ramp...

      May 29, 2025
    • Nuclear Power Trio: OKLO, SMR, and CCJ in Focus

      May 29, 2025

    Categories

    • Economy (7,009)
    • Editor's Pick (2,104)
    • Investing (538)
    • Stock (2,578)

    Disclaimer: RoundTableThoughts.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

    Copyright © 2024 RoundTableThoughts.com. All Rights Reserved.

    Round Table Thoughts
    • Investing
    • Stock
    Round Table Thoughts
    • Economy
    • Editor’s Pick

    Read alsox

    Important Market Breadth Indicators to Watch:...

    July 20, 2024

    Investing with the Trend: Appendix

    June 13, 2024

    Four MACD Patterns That Repeat

    June 1, 2023
    Sign In

    Keep me signed in until I sign out

    Forgot your password?

    Password Recovery

    A new password will be emailed to you.

    Have received a new password? Login here