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Intuitive Surgical Crosses Below its 10-day MA (ISRG)

Published on Wed, 02/20/2013 - 12:11
By Robert Cotter

Intuitive Surgical (NASDAQ:ISRG) shares have crossed bearishly below their 10-day moving average of $572.68 on a volume of 255K shares. This may provide swing traders with an opportunity for a short position, as such a crossover often suggests lower prices in the near term.

Potential upside of 9.1% exists for Intuitive Surgical, based on a current level of $566.48 and analysts' average consensus price target of $618.00. The stock should discover initial support at its 50-day moving average (MA) of $534.78 and subsequent support at its 200-day MA of $525.68.

Intuitive Surgical, Inc. design, manufactures and markets surgical systems. The Company's surgical system controls Intuitive Surgical endoscopic instruments, including rigid endoscopes, blunt and sharp endoscopic dissectors, scissors, scalpels, forceps/pickups, needle holders, endoscopic retractors, electrocautery, ultrasonic cutters, and accessories during surgical procedures.

In the past 52 weeks, shares of Intuitive Surgical have traded between a low of $320.00 and a high of $594.89 and are now at $566.48, which is 77% above that low price. In the last five trading sessions, the 50-day moving average (MA) has climbed 0.4% while the 200-day MA has remained constant.

By Robert Cotter