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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 $536.31 and $544.99 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 Surgic share prices have moved between a 52-week high of $581.12 and a 52-week low of $292.17 and closed yesterday at 85% above that low price at $540.02 per share. The 200-day and 50-day moving averages have moved 0.37% higher and 0.27% lower over the past week, respectively.

Intuitive Surgic (NASDAQ:ISRG) defies analysts with a current price ($540.02) 14.4% above its average consensus price target of $462.47. Intuitive Surgic shares have support at the 50-day moving average (MA) of $537.57 and additional support at the 200-day MA of $482.52.

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.

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