Nearest Resistance: N/A
Nearest Support: $6.80
Catalyst: Earnings Call
Last but certainly not least is
(BSX - Get Report)
, the $10 billion medical device maker. BSX announced earnings yesterday, reporting numbers that sent investors into buy mode. Today, BSX is seeing continuation, with shares bid up around 3% as I write.
>>5 Biotech Stocks Under $10 Moving Higher
That's got BSX testing new 52-week highs in this week's trading, a good sign for shareholders. Making new highs is significant from an investor psychology standpoint because it means that everyone who has bought shares in the last year is sitting on gains. As a result, the "back to even" mentality is less of a concern than it would be for a name with a higher proportion of shareholders sitting on losses. For late-to-the-game buyers though, I'd recommend sitting on the sidelines until BSX pushes above yesterday's high water mark.
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