In the Spotlight — MAKO


Mako Surgical Group (MAKO) has been stair stepping its way higher for almost a year now, and finds itself once again wedged between lateral resistance and its rising multi-month trendline.  MAKO has all of its key moving averages beneath it as it approaches the apex of its most recent ascending triangle pattern, and may be getting ready to resume its trend.  Watch for a move above $32.50 to signal a likely retest of its recent highs at the very least, and a possible move higher especially if good volume accompanies the move.  Any move below its moving averages or rising trendline would break its long term trend and give us a clear cut message that MAKO needs more time to consolidate the impressive move it has made since the late part of 2010.  Keep in mind that MAKO is schedule to report earnings on 8-8-11.

 

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Posted in Charting & Analysis, Stocks, Watchlist