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ISRG Setting Up For A Potential Move Higher

Apr. 30, 2011 9:25 PM ETISRG
User 489800's Blog
Please Note: Blog posts are not selected, edited or screened by Seeking Alpha editors.
We’ve spent a fair amount of time on Pullbacks Off High’s (POH) chart patterns and one look below at ISRG pretty much tells the story. Keep in mind this name is prone to 3-5 point mood swings on a daily basis. That works for you and against you.

For us a big part of our success around here has been that of the Pullback Off Highs (POH) longside trade set ups of leading stocks in clearly defined uptrends. It’s really the only pattern you’ll ever need to know in uptrending markets.

As you can see this issue is in a clearly defined uptrend pulling back off of its highs. It has also pulled back to a prior support level and above the 50 day average. Those levels tend to act as supports. For us we are going to continue to stalk this issue till it stages an upside crossover of the Pink line. At that time we will step in and buy a call option on this issue.

Find out how you can receive a watch list of set-ups like these BEFORE they trigger trades by signing up for our free newsletter and receive our free report — “How To Outperform 90% Of Wall Street With Just $500 A Week”

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