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Intuitive Surgical
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ISRG
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$547.47
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+0.63%
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$540.56
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$550.18
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$537.17
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Mark L. Newton, CMT AC
Head of Technical Strategy
Tue, June 25, 2024 | 3:50PM ET
20 mins til the bell, US Indices have recovered nicely today and SPX is now set to be positive on the week at current levels, (above 5464.61) with QQQ being 1 point away. In a bit of a reversal of the sector participation we've seen in recent days, SPX's gains are being driven nearly all by Technology today after three straight days of weakness. XLK-2.38% is higher by +1.79% while Equal-weighted Tech is up +0.41%, but market breadth is negative by nearly 3/2 as six sectors out of 11 are down more than 1%. Thus, the actual performance "under the hood" is not nearly as robust as might be expected when one hears QQQ is up 1%. Very good performance out of NVDA-2.95% , ARM-3.08% which have both rallied more than 6% today, while ISRG0.63% , MELI1.14% and KLAC-0.46% are higher by 3%. However only Tech and Communication Services are positive by more than +0.30% today while Energy is fractionally positive at +0.05%. As hourly SPX charts show, it's difficult to claim that lows to this recent pullback are officially in, as the minor downtrend from last week is intact and the shape and structure of today's bounce is somewhat unconvincing. However, i'm confident there should be a low in place by this week and kick off a strong start to July which historically has been quite good during Election years
Mark L. Newton, CMT AC
Head of Technical Strategy
Wed, January 31, 2024 | 12:21PM ET
ISRG0.63% Intuitive Surgical is one of my favorites within Healthcare and is one of 15 stocks on my current UPTICKS list. The move in Healthcare higher should help ISRG to extend its recent breakout, and i anticipate technical gains to$427 and an eventual move to$521 as an intermediate-term upside target. January (with 4 hours remaining) is set to log an all-time high monthly close, and this stock is well positioned for further gains in 2024.
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Last updated: 2025-01-10 16:50:01