Boston Scientific (BSX) continues bullish sequence

Elliott Wave Forecast Team ElliottWave-Forecast.com

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.

As discussed in the previous article, BSX resumes upside after ended ((4)) as flat correction at $71.88 low. It favors upside in ((5)) towards $81.23 – $84.11 area to finish the III impulse sequence before any pullback may happen.

BSX – Elliott Wave Daily View From 6.17.2024:

In weekly sequence, it placed (II) at $24.10 low in March-2020 & II of (III) at $34.98 low in June-2022. Above there, it favors upside in III, while dips remain above $71.88 low before any larger pullback may start. Within III, it placed ((1)) at $55.38 high, ((2)) at $48.35 low & ((3)) at $78.98 high as expected from last article. It placed (1) of ((3)) at $56.90 high, (2) at $54.95 low, (3) at $69.20 high, (4) at $66.80 low & (5) at $78.98 high as ((3)).

BSX – Elliott Wave Latest Daily View:

It placed ((4)) as flat structure at $71.88 low as 0.236 Fibonacci retracement of ((3)). It placed (A) at $74.15 low, (B) at $79.43 high & finally ended (C) at $71.88 low. Currently, it favors upside in (1) of ((5)) & expect rally to continue towards $81.23 – $84.11 area, which confirms above $79.43 high to finish III sequence. Later, it should pullback in IV in 3, 7 or 11 swings against June-2022 low, which will provide the next buying opportunity.

BSX – Elliott Wave Latest Weekly View:

Author

Elliott Wave Forecast Team

ElliottWave-Forecast.com

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