ISRG Strategy for 3-18-10
- Posted by: PortfolioTilt, March 19th, 2010 at 10:53 am
- Comments: 0
Hello Chart.ly, Drew here from Portfolio Tilt with a look at the recent action in ISRG.
The stock is clearly in a strong uptrend. Over the last few months, ISRG often found support at its 20 day moving average line (green line), but when this area failed, prices pulled back to long-term trendline support or the 50 day moving average line (blue) before leaping higher.
This is the ideal area to buy the stock, after a healthy pullback, because overall it offers the lowest amount of risk (based on nearby stop-loss area) and the highest potential upside. Although it is tempting to buy here at the 20 day EMA, we must ask ourselves; what am I going to do if the 20 day moving average fails and the stock declines about $20 to the 50 day moving average? read more…
Tickers: $ISRG
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