Intuitive Surgical Inc. (ISRG) is a maker of robotic products for minimally invasive surgery that is expected to report its first-quarter results after the market close here on Tuesday. Let's check out the charts and indicators of Intuitive Surgical ahead of that event.
In this daily bar chart of ISRG, below, I see a positive-looking picture. Prices pulled back into March and tested the rising 200-day moving average line. This correction looks like a buying opportunity. Trading volume looks to be more active since October, suggesting more interest from investors. The On-Balance-Volume (OBV) line shows a rise in October and another rise starting in March, telling me that buyers of ISRG have become more aggressive. The Moving Average Convergence Divergence (MACD) oscillator is in a bullish alignment above the zero line.
In this weekly Japanese candlestick chart of ISRG, below, I see a bullish setup. Prices are trading above the rising 40-week moving average line. ISRG still needs to rally above its December highs to move into a new uptrend (higher lows and higher highs). The weekly OBV line is showing strength in recent months. The MACD oscillator is turning upward from above the zero line -- a positive pattern.
In this daily Point and Figure chart of ISRG, below, I can see the software is projecting a potential upside price target in the $327 area.
In this second Point and Figure chart of ISRG, below, I used weekly price data and saw a price target in the $306 area.
In this third Point and Figure chart of ISRG, below, I used weekly price data with a five-box reversal filter. Here the software projects a target in the $446 area.
Bottom line strategy: I don't know what ISRG will tell shareholders after the close of trading today. Looking at the charts and indicators leads me to recommend the long side of ISRG. Aggressive traders could buy available weakness Tuesday and early Wednesday.
