Intuitive Surgical Is Approaching Important Moving Averages
Published on Friday, 14 September 2012 08:44 Written by TradersHuddle Wire
New York, September 14th (TradersHuddle.com) - Intuitive Surgical, Inc. (NASDAQ:ISRG) closed the the trading session at $489.72, near its 50 day and 200 day moving averages currently set at $506.33 and $508.90 respectively. Intuitive Surgical's price action places the stock below these important levels, which makes it difficult to be bought, as it will certainly face resistance as it approaches these important moving averages.
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.
The latest price action range, defined by a peaks and troughs algorithm, placed calculated support at $486.01 and resistance at $518.37. Traders should monitor these levels, as they provide insight into the latest price dynamics in Intuitive Surgical.
If traders want to establish a position on Intuitive Surgical, given the heavy resistance expected near the 50 and 200 day moving averages, a trade might be evident as the stock manages to break these moving averages. However, until the break materializes buying the stock is nothing different than flipping a coin.
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