ISRG ready to break from the cup and handle?
* Exceptional earnings
* Very strong up trend
* High 3-month relative strength in the Healthcare sector
* Offering a pocket pivot entry with little to no resistance
* Forming a text-book cup and handle pattern with a ~11% deep base
* Base forming for the past ~10 weeks with a tight handle of ~3 weeks
Trade Idea:
* Now's a great time to enter on the pocket pivot signal and it's just before the breakout
* Offering a great risk/reward ratio
* If you're looking for a slight discount you can look for an entry near the $353.94 area
* This would be its second attempt at breaking out.
Notes:
* The general Healthcare sector has been in a very tight consolidation for the past several weeks.
* This seems to be a leader in the sector breaking out before its peers.
Caution:
* This is a pocket pivot signal and though there's little to no overhead resistance, the stock might not breakout immediately.
* A daily close below $353.94 would negate this idea
* Since there is some buffer room in the stop, we may be able to wait for two consecutive days closing below $353.94 before exiting.
* Very strong up trend
* High 3-month relative strength in the Healthcare sector
* Offering a pocket pivot entry with little to no resistance
* Forming a text-book cup and handle pattern with a ~11% deep base
* Base forming for the past ~10 weeks with a tight handle of ~3 weeks
Trade Idea:
* Now's a great time to enter on the pocket pivot signal and it's just before the breakout
* Offering a great risk/reward ratio
* If you're looking for a slight discount you can look for an entry near the $353.94 area
* This would be its second attempt at breaking out.
Notes:
* The general Healthcare sector has been in a very tight consolidation for the past several weeks.
* This seems to be a leader in the sector breaking out before its peers.
Caution:
* This is a pocket pivot signal and though there's little to no overhead resistance, the stock might not breakout immediately.
* A daily close below $353.94 would negate this idea
* Since there is some buffer room in the stop, we may be able to wait for two consecutive days closing below $353.94 before exiting.