ISRG breaks back below 100-day moving average
Intuitive Surgical Inc. (ISRG) Technical Analysis Report for Jul 12, 2019 | by Techniquant Editorial Team
ISRG finished the week -2.05% lower at 526.25 after tanking $9.75 (-1.82%) today, significantly underperforming the Nasdaq 100 (0.59%). This is the biggest single-day loss in over a month. The last time we've seen such an unusually strong single-day loss on May 31st, ISRG lost -1.42% on the following trading day.
Daily Candlestick Chart (ISRG as at Jul 12, 2019):
Friday's trading range has been $10.70 (2.01%), that's slightly above the last trading month's daily average range of $9.47. Things look different on the weekly timeframe, where the market's trading range of the last week has been slightly below the market's average weekly trading range. The longer-term, monthly volatility is currently lower than usual for ISRG.
After trading as low as 520.51 during the day, the stock found support at the 20-day moving average at 524.74. The market closed back below the 100-day moving average at 527.02 for the first time since June 28th.
Though still in a long-term downtrend, the short and medium-term trends both turned bullish already.
Among the five market conditions that our pattern recognition engine identified today, the statistics for the Support/Resistance based market condition "Bullish Bounce off SMA 20" stand out. Its common bullish interpretation has been confirmed for Intuitive Surgical. Out of 71 times, ISRG closed higher 64.79% of the time on the next trading day after the market condition occurred. The optimal exit for swing trading this condition on the long side has been after 10 trading days, showing a win rate of 64.79% with an average market move of 1.47%.