Elliott Wave Technical Analysis: Intuitive Surgical, Inc.

By Peter Mathers of Trading Lounge

Elliott Wave Analyst - tradinglounge • Aug 15, 2022 at 5:23 PM EDT

Looking for a continuation higher into (v) of {iii} as we have been tracking down for the past week. The price movement has been confirming the bias therefore the level of conviction of the count has increased.

Intuitive Surgical, Inc., Elliott Wave Technical Analysis

Intuitive Surgical, Inc., (Nasdaq: ISRG): Daily Chart, August 15, 2022,
ISRG Stock Market Analysis: Looking for a continuation higher into (v) of {iii} as we have been tracking down for the past week. The price movement has been confirming the bias therefore the level of conviction of the count has increased.

ISRG Elliott Wave count: Wave (iv) of {iii}.
ISRG Trading Strategy: Start building a small long position and an aggressive stop would be below the 232$ low.

ISRG Technical Indicators: Both RSI and MACD are in the clear bull territory and support the thesis of a wave {iii} in place.

ISRG Latest News: Block’s earnings beat estimates but the stock drops. Here’s why(Yahoo Finance).

Analyst: Alessio Barretta

(Click on image to enlarge)

Intuitive Surgical Inc., ISRG: 4-hour Chart, August 15, 2022,

Intuitive Surgical Inc., Elliott Wave Technical Analysis
ISRG Stock Market Analysis: Looking for an end of wave c or else the end of the triangles as shown. The alternate would be a sideways complex correction.

ISRG Elliott Wave count: Wave c of (iv)
ISRG Technical Indicators: We have just touched the 200 EMA and we have found support off it which is an additional sign of further upside.

ISRG Trading Strategy: Start building a small long position and an aggressive stop would be below the 232$ low.

(Click on image to enlarge)

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