Boston Scientific is back on familiar ground, but the business arriving this time is not the same.
Will a history of strong bounces matter more than a future of weaker growth?
Boston Scientific (BSX), a maker of medical devices from coronary catheters to neuromodulators, has seen its stock slide. Now trading around $49.01 a share, it has settled back into a price zone between $46.56 and $51.46 where buyers have, in the past, drawn a firm line. This floor has been tested and defended six separate times.
History says buyers show up here. The question every investor watching this pullback must answer is, will they this time? The table of prior bounces shows a pattern of sharp recoveries, but a pattern is not a promise.