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?
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?