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

By Amy Schwartz

SmarTrend's candlestick scanner has spotted a possible bullish inside day candle pattern in Intuitive Surgic (NASDAQ:ISRG) based on the price action in the company's shares. Yesterday's price range of $499.31 and $505.74 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. Traders and investors interested in shares of Intuitive Surgic may want to consider an appropriate entry level in the event a reversal to the upside transpires. It is important to look for confirmation.

In the past 52 weeks, shares of Intuitive Surgic have traded between a low of $360.50 and a high of $619.00 and closed yesterday at $512.13, which is 42% above that low price. Over the last five market days, the 200-day moving average (MA) has remained constant while the 50-day MA has declined 0.8%.

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) defies analysts with a current price ($512.13) 9.7% above its average consensus price target of $462.47. The stock should find initial resistance at its 50-day moving average (MA) of $513.91 and further resistance at its 200-day MA of $540.28.

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: bullish am inside day candle intuitive surgic

Ticker(s): ISRG