So far this is still bullish. Wave 3-4 possibly was completed and we are heading into the last bull cycle for ISRG. Before the glorious crash and burn ABC
Not much to add here, just look for a possible double top here, if market goes sour.
Good luck everyone ;)
BLUE = Bear/Resistance
Yellow = Bull/ Support
~Explore the chart for possible...
INTUITIVE SURGICAL has seen a very intense sell off in recent days which does no breed confidence coming into earnings. With a current p/e ratio of 55 the stock is quite expensive but has the catalyst of growth to power it higher. We think it is to risky to long into earnings so maybe see what happens before initiating any position.
As you can see it is a reverse head and shoulder, although the whole deal with JNJ just happened ISRG is a great company and definitely a store guy IMO it has some big supports and resistances.
SHORT TERM SUPPORTS: $535/526
SHORT TERM RESISTANCES: $536.95 and 543 and $547
Needs to stay above $537 to go up
Check the chart and you'll see no less than 5 diff H&S patterns going both ways in the past several months... Expecting this one to play out as well. The yellow line is the daily 200DMA, expecting this to retest that before moving back down in a mid-late jan selloff as the broader market retests the xmas lows. Risk is definitely to the upside on this trade tho so...
As previously discussed if ISRG closed below the blue support line it should have been shorted. Now it is time to ride back up as it retraces. I believe this stock still has a lot to lose but learn to play both sides.
ISRG has been a reliable money maker on both sides of the game. If ISRG is looking to close below the blue support line I am looking to buy some PUTS, if it closes above I will buy some calls. Either or, watch this one close tomorrow. This is the perfect play for a swing trader.
Intuitive Surgical Inc., under the Medical Instruments and Supplies industry, has had strong growth over the past 3 years but it is now facing the risk of a topping formation. The topping pattern is near the phase where a completed top could occur and then downside action would include sell short professionals and sell short HFTs. Support doesn’t kick in strongly...