Intuitive Surgical :  The Stock has made an Evening Star Pattern.

Following are the rules for a proper Evening Star:

1. It should be at the Top or at Resistance Level.

2. The 1st Candle should be a white candle.

3. The 2nd Candle can be white or black but should open higher than the previous close and the close of the 2nd candle should be above the close of 1st candle.

4. 3rd Candle should open a gap down and close within or nearby the 1st candle.

All these rules are followed in this security. We would expect the stock to correct as it is a reversal pattern.

Failure rates are less which is a good sign and retracements are seen, there are no specific targets for  any of the candlestick patterns. The targets are the next support or resistance.

RSI : RSI has shown divergence at the upper level and the move to downside has been followed by RSI.

MACD : Macd has seen a crossover above 0 and below the previous crossover suggesting a change in trend.

Selling Opportunity

Jul 20 2021

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