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  1. Home
  2. / Investing

You'll Have to Be Sharp to Invest in Intuitive Surgical

Let's check ISRG as it is likely to slice through a major support zone.
By BRUCE KAMICH
Jun 22, 2022 | 12:50 PM EDT
Stocks quotes in this article: ISRG

Intuitive Surgical (ISRG)  develops and manufactures da Vinci Surgical Systems and other instruments for invasive surgery -- real cutting edge stuff. A sell side fundamental analyst lowered their price target to $225 but this may be optimistic when we look at the charts.

 
In this daily bar chart of ISRG, below, we can see a top pattern in September-December before prices started a downtrend. Prices are now trading below the declining 50-day moving average line and below the declining 200-day line. The trading volume shows an increase from January as more traders have reacted to the decline in price and have voted with "their feet." The On-Balance-Volume (OBV) line shows a decline from April telling us of a shift towards more aggressive selling of shares. The Moving Average Convergence Divergence (MACD) oscillator is bearish.
 
 
In this weekly Japanese candlestick chart of ISRG, below, we see a bearish picture. Prices are in a downward trend and we fail to see a bottom reversal pattern or lower shadows to give us some confidence that prices could stabilize. Prices trade below the declining 40-week moving average line. The weekly OBV line is pointed down, and so is the MACD oscillator. Notice the band of potential support in the $210-$150 area?
 
 
 
In this daily Point and Figure chart of ISRG, below, we can see a potential upside price target in the $235 area.
 
 
 
In this weekly Point and Figure chart of ISRG, below, we can see a downside price target in the $104 area.
 
 
Bottom line strategy: Shares of ISRG could bounce with a recovery in the broad market averages, but this may be a temporary bounce and further declines are possible with the risk being a break of long-term support in the $210-$150 area.
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TAGS: Investing | Stocks | Health Care Equipment & Services

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