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

By Nick Russo

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 $601.11 and $602.69 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.

In the past 52 weeks, Intuitive Surgic share prices have been bracketed by a low of $555.02 and a high of $1054.77 and closed yesterday at $604.67, 9% above that low price. Over the past week, the 200-day moving average (MA) has gone up 0.2% while the 50-day MA has advanced 0.2%.

Intuitive Surgic (NASDAQ:ISRG) defies analysts with a current price ($604.67) 23.5% above its average consensus price target of $462.47. The stock should discover initial support at its 50-day moving average (MA) of $588.40 and subsequent support at its 200-day MA of $539.34.

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