Stocks This Week: Buy Boston Scientific And Sell Short Boeing
Last week, we were entering the end-of-month strength period for October, the strongest of the 12 months. It was also the bullish pre-election period. The result was an unexpectedly strong week. It was so strong that it at least mitigates or even eliminates the projection for lower prices for the coming week. At worst, we may see a consolidation.
Here are two trade recommendations for the short term.
Boston Scientific has both the daily and the weekly cycles bottoming. The daily rhythm bottoms on the 11th. The stock is oversold. The target is at least 38. All 8 buy signals have been profitable in the last year.
Boston Scientific Daily Cycle
Boston Scientific Daily Graph
The weekly Boeing cycle (all five have been accurate in the last year) tops on November 9th. The daily cycle also points down. The share price is seasonally weak in the first half of the month. The $110 area is a reasonable target.
Boeing Weekly Cycle
Boeing Daily Graph