Intuitive Surgical (ISRG) develops, manufactures, and markets robotic products designed to improve clinical outcomes through minimally invasive surgery. In our June 22 review of the stock we wrote that "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."
The company is scheduled to report their latest quarterly figures Thursday so another look at the charts is in order.
In this updated daily bar chart of ISRG, below, we can see that prices bounced into July and have remained steady as the broad market averages have recouped some of their losses. ISRG just closed above the bottoming 50-day moving average line. The slope of the 200-day line is negative and intersects around $285. Prices have made almost an exact 50% correction from the November zenith.
The On-Balance-Volume (OBV) line has been surprisingly steady this year and shows a rise from the middle of June as traders became more aggressive buyers of the stock. The Moving Average Convergence Divergence (MACD) oscillator is close to moving above the zero line for an outright buy signal.