ISRG - Coming down to earth after ATH's!NASDAQ:ISRG
They destroyed earnings, but...
Previous resistance needs to flip! 🥞
Dip Buy Box: $548-$556
Would be a gift based on report 🎁
Not financial advice
Isrgshort
ISRG - MyMI Option PlaysSaw some worse-than-expected Quarterly Results and we were already looking at some Potential PUTs on the stock.
We're looking at a potential $225 Price Target which we actually saw those price levels into today's premarket. We expect to see even lower price levels than $219 on a Double Oversold Bounce to the downside on the lower timeframes just due to the momentum to the downside. Could see some potential 100% gains intraday even, so will buy a few and then sell one to take the initial investment back and look at holding shares on the turnaround at the bottom.
Will add lower time frame charts in comments on the trade!
Thanks for tuning in!
MyMI Wallet
ISRG consolidation then new highs or retest support?Just did a basic fib retracement on ISRG using that last low. Looks like the 50 fib line presents a consistent area of traffic and previous support. It tested the 236 fib area weeks ago and after managing to break through and hold, the stock made new highs. After failing to retest those highs at the end of the week, it settled back at the recent levels just shy of 950. That area has also been a short-term area of support. But does it hold these levels and bounce to retest ATH or is the retracement in effect heading back down closer to the 236 fib line?
Have to see what comes with ISRG earnings during this next round. That 71.22% surprise last quarter didn't hurt but can it maintain the same pace now that things are beginning to normalize to some extent?
