Intuitive Surgical (ISRG) has been trending higher since April and is currently forming another potential bullish pattern. If this pattern completes, ISRG could rally to $580 from its current price. The stock is closely watching its 50-day moving average, which it has been flirting with recently. A dip under this average could trigger a breakout in the bullish pattern.
Many Healthcare stocks and ETFs have gotten hit hard over the last few weeks, including the Health Care Select Sector SPDR ETF (XLV) , iShares U.S. Healthcare Providers ETF (IHF) and the iShares U.S. Pharmaceuticals ETF (IHE) , which all remain noticeably below their 2024 highs. The iShares U.S. Medical Devices ETF (IHI) took a hit in December too, but the damage it incurred was minimal by comparison. The ETF remains close to its all-time high.
Some of its components are even closer, including Intuitive Surgical (ISRG) . ISRG has been trending higher since bottoming in April. The stock broke out from two bullish patterns in May and hit both of the targets we had at the time. After the August volatility, ISRG re-established its uptrend and took advantage of the earnings-induced bullish pattern breakout this past October, hitting another upside objective. Since the middle of November, ISRG has been constructing yet another potential bullish formation. It's not completed yet, but an eventual breakout above the $550 zone would trigger an upside target near $580. It's never easy to know when a dip will turn into a more severe sell-off. For hundreds of stocks that have declined over the last six weeks, this has become crystal clear. For ISRG, specifically, we should watch how it does vs. its 50-day moving average from here. Since reclaiming the line in early 2024, the stock has taken off. Along the way, ISRG has pulled back on various occasions and actually sliced back under the line a handful of times. Sometimes the breach was minimal and brief; other times, ISRG spent multiple weeks battling the line before it finally broke back above it once again. It last undercut the 50-DMA in the second half of December, and it's been flirting with it ever since. If traders once again leverage this dip under the 50-day line, then the pattern profiled above finally could be completed, and the upside target could become a realit
Healthcare Stocks Etfs Intuitive Surgical ISRG Bullish Pattern 50-Day Moving Average Technical Analysis
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