One of my favorite healthcare stocks is waking up

This proven winner looks ready to start its next major leg higher. [Justin Spittler's Trade of the Week] One of my favorite healthcare stocks is waking up Buying winners. It’s a proven concept. And yet most traders do the opposite. They gravitate toward laggards in hopes of bagging a “catch-up trade.” But, as regular readers of mine know, winners keep winning. That’s why I buy stocks that have already proven themselves. It makes my job much easier! That brings me to my newest Trade of the Week: Intuitive Surgical (ISRG). Intuitive Surgical manufactures robotic surgery machines, including the da Vinci surgical system. It’s one of the world’s most innovative companies. And it’s one of my favorite healthcare stocks at the moment. To understand why, let’s pull up its weekly chart. ISRG broke out to new all-time highs back in January. It’s been consolidating over its prior cycle, or 2021 highs. This is perfectly normal behavior. It allows a stock to “catch its breath” before beginning its next leg up. In this case, ISRG has traded sideways for several months, forming a base during that time. However, it’s starting to wake up from its long nap. On Friday, ISRG quietly closed at a new all-time high. That tells me it’s just begun its next major leg higher. Source: StockCharts ([click to enlarge]() I suggest buying a starter position in ISRG today. I believe it could hit $525 within the next 12 months. Exit your position if ISRG closes below $370. That gives us a risk-reward ratio of more than 3:1 on this trade. Action to take: Buy ISRG at current market prices. Risk management: Exit your position if ISRG closes below $370. Justin Spittler Chief Trader, RiskHedge PS: If you see this message, that means you should’ve received a [private invitation]( to help us celebrate RiskHedge’s six-year anniversary. [Go here to see the details.]( (And please note: Not everyone receives this, so please don’t share.) If someone forwarded you this email and you would like to be added to our email list to receive Justin Spittler's Trade of the Week every week, [simply sign up here.]( This email was sent to {EMAIL} as part of your subscription to Justin Spittler's Trade of the Week. To opt-out, please visit the [unsubscribe page](. [READ IMPORTANT DISCLOSURES HERE.]( YOUR USE OF THESE MATERIALS IS SUBJECT TO THE TERMS OF THESE DISCLOSURES. Copyright 2024 RiskHedge. All Rights Reserved RiskHedge | 1417 Sadler Road, PMB 415 | Fernandina Beach, FL 32034