Intuitive Surgical (ISRG)

The daily chart shows that it broke down out of a descending triangle on Thursday, setting a new 52wk low. If we get a rally this week, let’s see if it fails to cross up over the 20EMA or the trendline from the last four sessions, say about $155-165. If it either breaks quickly down below $144, or recovers to $155 or so and fails to break above the 20EMA, it’s a good short @ $144 (and buy some puts). Based on the height of the triangle, mid-term target price is $70-85. I think it will trade down into the $120-130 range by end of week, but if it crosses the 20EMA up, all bets are off for another two weeks (it will go back up to the $175-180 range and get really interesting to short then).