Intuitive Surgical near Support

Published on Thursday, 13 September 2012 10:28 Written by TradersHuddle Wire

New York, September 13th (TradersHuddle.com) - Shares of Intuitive Surgical, Inc. (NASDAQ:ISRG) ended the trading session close to calculated support at $486.01, a level that will raise the attention of traders looking for an entry point.

Intuitive Surgical's stock range is defined by its calculated support defined at $486.01 and by the resistance level at $518.37. This range could be used as a reference by traders planning their next move. The area where buyer interest might materialize is defined as calculated support. Stocks trading near support might see upside if it can successfully hold the technical level. However, this area if breached will signal participants that the stock failed to entice buyers to step in to support it.

Traders wanting to establish a position should pay close attention to Intuitive Surgical's price action, and establish it as close to support as possible, but only after buying materializes. Traders should understand that the resistance point at $518.37 might limit their upside, however, if the stock breaks resistance, it could be a good point to add to the position.

Shares of Intuitive Surgical, Inc. closed at $486.08 in the prior trading session.

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.