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

By David Diaz

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 $600.49 and $603.99 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.

In the past 52 weeks, Intuitive Surgic share prices have been bracketed by a low of $562.42 and a high of $1054.77 and closed yesterday at $603.12, 7% above that low price. The 200-day and 50-day moving averages have moved 0.09% higher and 0.40% higher over the past week, respectively.

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.

Intuitive Surgic (NASDAQ:ISRG) is currently priced 23.3% above its average consensus analyst price target of $462.47. The stock should discover initial support at its 50-day moving average (MA) of $578.86 and subsequent support at its 200-day MA of $534.36.

SmarTrend recommended that subscribers consider buying shares of Intuitive Surgic on October 18th, 2019 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $549.80. Since that recommendation, shares of Intuitive Surgic have risen 8.9%. We continue to monitor ISRG for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: bearish am inside day candle intuitive surgic

Ticker(s): ISRG