The Greedy Trader Weekly Analysis
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Weekly RSI:< 20
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Relative Strength Index (RSI Indicator)

The Relative Strength Index is a popular momentum oscillator, developed by Welles Wilder, Jr. It is one of the most widely used technical indicators. Relative Strength Index compares upward vs. downward movements in closing over a selected period. The RSI Indicator fluctuates from 0% to 100%. A stock with RSI Indicator higher than 70% is considered overbought and lower than 30% - oversold. A good rule is to adjust overbought/oversold index range to 80% in bull and to 20% in bear markets. Relative Strength Index can provide an early warning, but not the final signal. It should be used in conjunction with other stock picking techniques. The divergence between RSI Indicator and underlying stock price is the most important signal provided by RSI, and it can be an indication of an impending reversal. Using the RSI divergence (bullish and bearish), chart patterns, trendlines, support, and resistance lines along with the RSI Indicator chart can be very useful.

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- 3/15/2024 -
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Intuitive Surgical Inc. (ISRG) Technical Analysis

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Summary:
Weekly :Lane's Stochastic is overboughtWilliams' Percentage Range is strongly overbought
Daily :Williams' Percentage Range is overboughtThe price has fallen below the Parabolic SARThe period of low volatility of the stock price
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It was a first positive week for the Intuitive Surgical Inc. (ISRG). During the week, the ISRG gained 4.43 points, or 1.13%, and closed at 396.28 on Friday, March 15, 2024. Weekly volume was 14% above average.

Long-term trend: [See ISRG long-term trend chart]
A long-term downtrend had started on September 8, 2021 at 1087.01 and reached 180.07 on October 13, 2022. ISRG lost 906.94 points, or 83.43%, in 57 weeks. The chart has formed a Broadening Ascending Wedge chart pattern. The trend support level is at 273.23 and resistance is at 436.59. A Broadening Ascending Wedge pattern is considered to be a reversal formation. It usually appears in a mature trend, characterized by overbought/oversold long-term and short-term indicators, and often generates divergence on long-term indicators. Use the following link to access a Broadening Ascending Wedge chart pattern help, or use a Technical Stock Screener to see the list of stocks with Broadening Ascending Wedge pattern in a long-term trend.

Medium-term trend: [See ISRG medium-term trend chart]
A medium-term uptrend had started on October 13, 2022 at 180.07 and reached 403.00 on March 4, 2024. ISRG gained -222.93 points, or -123.80%, in 72 weeks. The chart has formed a Broadening Ascending Wedge chart pattern. The trend support level is at 284.42 and resistance is at 440.48. Use the following link to access a Broadening Ascending Wedge chart pattern help, or use a Technical Stock Screener to see the list of stocks with Broadening Ascending Wedge pattern in a medium-term trend.

Weekly Technical Indicators: [See ISRG weekly technical indicators chart]
Weekly Lane's Stochastic is overbought while Williams' Percentage Range is strongly overbought. Use the Technical Stock Screener to see the list of stocks with overbought weekly Lane's Stochastic or strongly overbought weekly Williams' Percentage Range. Oscillators are designed to signal a possible trend reversal. They can act as alerts and should be taken in conjunction with other technical analysis tools. Oscillators can be used to confirm other technical signals. Use the following links to access Lane's Stochastic and Williams' Percentage Range help.

The weekly MACD line is above its signal line since November 24, 2023. This is an indication that the medium-term trend is up. Use the following link to access a MACD help.

Short-term trend: [See ISRG short-term trend chart]
A short-term downtrend had started on March 4, 2024 at 403.00 and reached 376.60 on March 14, 2024. ISRG lost 26.40 points, or 6.55%, in 10 days. The price is now at the 74.55% retracement level.

Daily Technical Indicators: [See ISRG daily technical indicators chart]
Daily Williams' Percentage Range is overbought. Use the Technical Stock Screener to see the list of stocks with overbought daily Williams' Percentage Range.

The daily MACD line is below its signal line since March 4, 2024. This is an indication that the short-term trend is down. The distance between MACD and the signal line is low, but getting bigger. It indicates that the current short-term downtrend is getting stronger.

During the last week, the price has fallen below the Parabolic SAR (stop and reversal). A Parabolic SAR above the price is a bearish signal, and it indicates that momentum is likely to remain in the downward direction. A Parabolic SAR is used as a trailing stop loss for long or short positions. It works best during strong trending periods. Use the following links to access Parabolic SAR Help, or use the Technical Stock Screener to see the list of stocks with the Parabolic SAR close to the price level.

The distance between the Bollinger Bands is falling, and it was 6.2% on Friday. It is 51.54% lower than one year average. It indicates the period of low volatility of the stock price. The Bollinger Bands are often used with a non-oscillator indicator like chart patterns or a trendline. The signals are considered more reliable if these indicators confirm the recommendation of the Bollinger Bands. Use the following links to access the Bollinger Bands Help, or use the Technical Stock Screener to see the list of stocks with the price above the Upper Bollinger Band or below the Lower Bollinger Band.

Daily Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 54.97
Williams' Percentage Range (W%R) 16.20
Overbought
Lane's Stochastic (%D-Slow) 37.22
Greed/Fear Indicator (GFI) 58.66
Moving Average Converg./Diverg. (MACD) 4.45
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 79.21
Williams' Percentage Range (W%R) 3.30
Strong Overbought
Lane's Stochastic (%D-Slow) 86.46
Overbought
Greed/Fear Indicator (GFI) 82.02
Overbought
Moving Average Converg./Diverg. (MACD) 19.90
Trading Signals
Description Value Chart
Quarterly Trendline Resistance 440.48
Yearly Trendline Resistance 436.59
Monthly Trendline Resistance 420.03
Parabolic System 400.35
Upper Bollinger Band 398.84
Weekly Stochastic Crossing 397.30
Price 396.28
Monthly Trendline Support 394.41
20 Day Moving Average 387.63
Daily Stochastic Crossing 386.00
50 Day Moving Average 376.97
Lower Bollinger Band 374.30
Sector and Industry
Description Name Rank
Sector Health Care 6
Industry Health Care Equipment 81
Daily Trend
Description Value
Direction Up
Chart Pattern Uptrend
Low 376.60
Low Date 03/14/2024
High 397.44
High Date 03/15/2024
Weekly Trend
Monthly Trend
Description Value
Direction Down
Chart Pattern DownTrend
Status
Resistance
Support
High 403.00
High Date 03/04/2024
Low 376.60
Low Date 03/14/2024
Description Value
Direction Up
Chart Pattern Rising Channel
Status Test Support
Resistance 420.03
Support 394.41
Low 254.85
Low Date 10/30/2023
High 403.00
High Date 03/04/2024
Quarterly Trend
Yearly Trend
Description Value
Direction Up
Chart Pattern Broadening Ascending Wedge
Status Valid
Resistance 440.48
Support 284.42
Low 180.07
Low Date 10/13/2022
High 403.00
High Date 03/04/2024
Description Value
Direction Down
Chart Pattern Broadening Ascending Wedge
Status Valid
Resistance 436.59
Support 273.23
High 1087.01
High Date 09/08/2021
Low 180.07
Low Date 10/13/2022
Warning: TheGreedyTrader.com presents weekly analysis. Technical indicators and trend parameters are calculated for the close of business day indicated on the top right corner of the screen.