Boston Scientific Corporation develops, manufactures, and markets minimally invasive medical devices. From its humble beginnings in a small laboratory in Massachusetts, Boston Scientific has grown and then honed its core to over 25,000 people worldwide.

On 19th April the company reported sales of $1.866 billion, decrease of 3% year over year. Also the net profit, excluding net charges, is decreased to $220 million from $336 million a year earlier. In the conference, management reaffirmed its forecasts for full year sales will be in a range between $7.35 and $7.65 billion, with earnings estimates between $0.60 and 0.70 per share. The stock is currently trading 17 times EPS estimates for 2012, more expensive than its sector, according to Surperformance peers.

Graphically, the share reached the USD 6.4 mid-term resistance. This threshold had set up a particular technical pattern known as “double top”. In weekly data we may see an historical transversal resistance could give more power to our bearish scenario.

In fact we suggest to take a short position immediately, in order to take a benefit from downward movement. We fix a first target on the USD 5.8 short-term resistance and then USD 5.5, in order to fill a bullish gap. We suggest a stop loss above long-term resistance.