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Intuitive Surgical (ISRG) Crosses Pivot Point Resistance at $507.49

Published on Wed, 01/09/2013 - 13:39
By Robert Cotter

Shares of Intuitive Surgical (NASDAQ:ISRG) opened today above their pivot of $504.00 and have already reached the first level of resistance at $507.49. Should the shares continue to rise, the resistance pivots of $510.50 and $517.00 will be of interest.

In the past 52 weeks, Intuitive Surgical share prices have been bracketed by a low of $320.00 and a high of $594.89 and are now at $509.25, 59% above that low price. In the last five trading sessions, the 50-day moving average (MA) has fallen 0.5% while the 200-day MA has remained constant.

Intuitive Surgical has overhead space with shares priced $509.25, or 15.1% below the average consensus analyst price target of $600.00. The stock should run into initial resistance at its 50-day moving average (MA) of $524.12 and subsequent resistance at its 200-day MA of $525.91.

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.

By Robert Cotter
rcotter@fnno.com