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

By Amy Schwartz

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 $458.18 and $468.00 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.

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.

Over the past year, Intuitive Surgic has traded in a range of $350.00 to $3283.65 and closed yesterday at $462.71, 32% above that low. The 200-day and 50-day moving averages have moved 1.05% higher and 1.10% higher over the past week, respectively.

Intuitive Surgic (NASDAQ:ISRG) is currently priced 4.0% above its average consensus analyst price target of $444.29. Intuitive Surgic shares should first meet resistance at the 200-day moving average (MA) of $2541.96 and find additional resistance at the 50-day MA of $3001.38.

SmarTrend is monitoring the recent change of momentum in Intuitive Surgic. Please refer to our Company Overview for the results of our proprietary technical indicators that have been scanning shares of Intuitive Surgic in search of a potential trend change.

Keywords: bearish am inside day candle intuitive surgic

Ticker(s): ISRG