Check out these familiar surgical price levels when the stock reaches another record high
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Intuitive Surgery shares hit another record high on Thursday as investor sentiment ran high amid growing demand for the company’s surgical robotics equipment.
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The stock has traded in an extended wedge wedge since early February of last year, keeping the price bounded in a pattern of two converging uptrends.
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The scaling principle calculates the distance of the ascending wedge near the widest point and adds that amount to the highest trend line of the pattern, creating a reversal target of $650.
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Investors should look for major support levels on the Intuitive Surgical chart around $550 and $520.
Possible surgery (ISRG) shares hit another record high Thursday, a day after Medical technology The company released the first quarter and full year Income As demand for surgical robotics equipment continues to grow, more than expected.
The company placed 493 da Vinci surgical systems in the fourth quarter of last year, up from a year earlier. The technology, which the company says has completed more than 14 million procedures, aids surgeons’ hand movements, helping to perform minimally invasive surgery.
Shares of Notable Surgery gained 0.7% to close above $584 after gaining nearly 8% on Thursday. Intuitive surgery shares have increased 60% in the last 12 months, which is more than manual surgery. S&P 50025% return in the period.
Below, we will take a closer look technical On the Intuitive Surgical chart and point out key price levels to watch.
Intelligible surgery stocks have done extended trading Increasing wedge Since the beginning of February last year, the price has remained confined within the pattern of two coordinated uptrends.
Lately, the price has strengthened near the lower trend line of the form. 50-day moving average before Create a gap Higher this week. Essentially, above average Volume It supports Wednesday’s pop, indicating institutional buying activity behind the move.
Since the stock is now trading in blue sky territory, we prioritize potential. upside down Target using Measurement principle And distinguish the main Support levels To monitor during the repetitions.
Investors can plan inverted targets using the scaling principle, a well-known technique Chart patterns To predict future price movements.
When we apply the study to the Intuitive Surgical chart, we calculate the distance to the widest point of the ascending wedge and add that amount to the uptrend of the pattern. In this case, we add $70 to $580, which sets the target at $650.
