Intuitive Surgical, Inc. (ISRG)
By Tue, Dec 29, 2020
It’s been a strong year of weekly chart alerts, and we’ve got one more big win just in time for the holidays.
Today’s Chart of the Week comes from the healthcare space which is sizzling hot.
Specifically, we’re looking at a medical technology company, Intuitive Surgical, Inc. (ISRG) which produces robotics products to improve clinical outcomes through minimally invasive surgery.
Hot sector, hot industry, great strength.
But what’s really nice is the consolidation we’ve been seeing over the last few months resolving to the upside.
Healthcare is winning right now, and ignoring it would be irresponsible.
So we are LONG in ISRG above $780 with a price target of $1040.
Below that 780 level, there’s just too much downside risk. But above it, we are long and targeting $1040 for a 33% gain.
Happy Holidays everyone!
Til next week, good trading,
JC Parets
P.S. If you haven’t gotten to watch, watch the replay from last week’s live Charting Room training for more actionable trades.
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About the Author
JC Parets, founder of All Star Charts, specializes in finding the most opportunistic risk vs. reward propositions while at the same time bringing a top/down approach to the marketplace whose wide spectrum is rivaled by few. JC begins with a long-term global macro perspective and then works his way down to the individual sector and industry level before ultimately isolating the stocks that best portray a particular thesis. Price is the most important technical indicator, but JC uses supplements such as Momentum, Relative Strength, and Fibonacci analysis to complete the process.
