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Swing Trade Idea – March 01, 2022

Our bearish trade for Tuesday, March 1st is BSX (Boston Scientific Corporation). BSX is part of the Health Care Sector which has seen some weakening over the last quarter. 

BSX has rallied to an area of resistance at $45 which provides a good risk/reward bearish entry. Although the Technical Score is high, we expect BSX to respect the resistance level, and then to continue lower.

As a close, if BSX were to trade above $46 for multiple days, this would invalidate our analysis and focus is cutting losses on the trade. We consider cutting losses on this options trade if the value of the vertical spread moves above $2.84.