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Last Update: 3.12.14
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2.11.14 Tuesday
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[8:42am CST] Entered Calls @ $422.00
Before I got into this trade, I wanted to make sure that horizontal and uptrend support junction is acting as firm support with full confirmation of a bounce, which it did yesterday, and also broke above my recent pivot of $420.00 (red dotted line). With that, now I can say, we are stair-stepping higher. Today, it was fortunate for me when it came down this morning, so I can have better entry here (because analysis is still the same but just some intraday fluctuations). Here at $422.00, I have decided to go long for longer-term trade on $ISRG. As long as we stay above this recent pivot (red dotted line) of $420ish, I do believe we will see higher prices at least for short-term. $445-$450 will be next level to break for continuing in this stair-stepping-higher-uptrend.
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2.12.14 Wednesday
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Nice move today with rather low volume, I think. Next task is to break above $445-$450 level for continuation. We are now trading above all major moving averages including 200SMA, and not mentioning, 100SMA is rising. Still holding full positions.
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2.13.14 Thursday
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Been riding it up but we are getting into the next resistance level of $445. What’s going to happen? I don’t know but I am curious to see how it’s going to deal with that. Still holding full positions.
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2.20.14 Thursday
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It’s little bit awkward looking but it looks like a Bull Pennant bullish continuation pattern. You can see from the lower wick today, bulls are fighting back. If we can close above $450, I do think $470 will be imminent. Still holding full positions.
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2.25.14 Tuesday
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I am still holding my call positions that I got in at $422.00, and it looks like we have formed bullish flag looking at this daily chart. Obviously, it needs confirmation of breaking out of this formation, and break above $445 (horizontal dotted red line) for a full confirmation of bullish continuation. Another scenario might be that it will continue to grind sideways in this fashion until it hits that uptrend support (rising red line), and then boom, to the upside.
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2.27.14 Thursday
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Well, technically, we did breakout of that bull flag I talked about on my previous update, however we are still below the resistance of $445.00. I really think we shouldn’t hesitate here but either blow right through it or gap it up tomorrow morning. If we can do that, I do think $470 is very doable. Still holding, full, call positions here since $422.00 (2/11).
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3.3.14 Monday
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[10:01am CST] Closed 1/2 Positions @ $461.49
So I’ve been holding my call positions since 2/11 morning, and finally, I closed 1/2 of my positions this morning with gain (about $40 move). Stock actually closed @ $453.84 but still looking bullish here with $470 target for immediate term. I do think we can continue to grind higher as long as we stay above $440ish. My stop has been tightened for my remaining positions.
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3.6.14 Thursday
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- Old resistance new support (see arrows)
- Bull flagging above recent pivot
I think if we can hold above $440ish, this bull flag can happen and bounce. Will see how it plays out next few days.
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3.12.14 Wednesday
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[1:55pm CST] Closed Remaining Positions @ $431.19
I was hoping another move to the upside but sadly, it kept deteriorating so I closed out my positions this afternoon with gain. We are now trading below 10/20EMAs so I am guessing 50EMA might be the next level of support. I don’t have any plan to get back in anytime soon.
