Approaching Resistance - Intuitive Surgical

Published on Thursday, 09 February 2012 08:56 Written by TradersHuddle Wire

New York, February 9th (TradersHuddle.com) - Shares of Intuitive Surgical, Inc. (NASDAQ:ISRG) are trading very close to calculated resistance at $495.53 with the current price action closing at just $491.92 placing the stock near levels that make it difficult to buy.

Intuitive Surgical, Inc. (NASDAQ:ISRG), together with its subsidiaries, engages in the design, manufacture, and marketing of da Vinci surgical systems for use in urologic, gynecologic, cardiothoracic, general, and head and neck surgeries. The da Vinci systems is the breakthrough platform for robotically assisted minimally invasive surgery.

Intuitive Surgical's current stock range is defined by current calculated support defined at $429.26 and by the resistance level at $495.53, the stock is clearly over-extended from support, making it difficult to establishing new long positions at this level.

Traders don't have a clear entry point for Intuitive Surgical, as the stock is well above support, however, as the stock pulls back towards $429.26 it will definitely provide a reference point to establish a trade. On the other hand if the stock decides to break above resistance level at $495.53 then traders will get an opportunity to enter Intuitive Surgical stock by establishing a position as the stock moves to a higher range.