For today's chart we've chosen to take a look at
Boston Scientific Corp. (NYSE:
BSX) because a
double top pattern has formed on the chart. As you can see from the chart below, the price has not broken below the $15.25 support, but if it does then traders would watch for a continued move toward the
swing low near $14. We've also applied the 200-day moving average because this level will likely act as a barrier to a short-term move higher and could be used to confirm the lack of bullish conviction that stands in the way of a move lower.
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