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Possible Bearish Inside Day Candle Pattern Detected for Intuitive Surgic (NASDAQ:ISRG)

By James Quinn

SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in Intuitive Surgic (NASDAQ:ISRG) based on the price action in the company's shares. Yesterday's price range of $578.00 and $578.00 is within the prior day's high and low of the day. This trading action often signifies indecision by bulls and bears to drive prices higher or lower and often implies a possible change in trend. Owners of Intuitive Surgic may want to consider a possible hedge in the event a pullback occurs. Look for confirmation in the next few trading days.

In the past 52 weeks, shares of Intuitive Surgic have traded between a low of $555.02 and a high of $1054.77 and closed yesterday at $581.55, which is 5% above that low price. Over the last five market days, the 200-day moving average (MA) has gone up 0.2% while the 50-day MA has remained constant.

Intuitive Surgical, Inc. design, manufactures, and markets surgical systems. The Company offers endoscopes, endoscopic retractors and disectors, scissors, scalpels, forceps, needle holders, electrocautery, ultrasonic cutters, and accessories during surgical procedures. Intuitive Surgical operates worldwide.

Based on a current price of $581.55, Intuitive Surgic is currently 20.5% above its average consensus analyst price target of $462.47. Intuitive Surgic shares should encounter resistance at the 50-day moving average (MA) of $587.34 and support at its 200-day MA of $536.39.

SmarTrend is tracking the current trend status for Intuitive Surgic and will alert subscribers who have ISRG in their portfolio or watchlist when shares have changed trend direction.

Keywords: bearish am inside day candle intuitive surgic

Ticker(s): ISRG