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New York, NY -- (SBWIRE) -- 01/07/2013 -- MAKO Surgical Corp. (NASDAQ:MAKO) is a medical device company that markets its robotic arm solution and orthopedic implants for orthopedic procedures called MAKO plasty. The Company offers MAKO plasty, a surgical solution that enables orthopedic surgeons to treat patient specific, osteoarthritic disease.
There's little doubt as to the market's opinion on MAKO Surgical Corp. today - it's bearish. MAKO is in the red to the tune of 4%, pouring salt in the wound of the 33% slide since September. All things - good or bad - end sometime though, and today's bar of this chart suggests that today may well be the end of the 'bad' for this name... at least for a while.
MAKO is a poster child for the premise. Things went from bad to worse today, with shares hitting new multi-month lows, and doing so on what will be huge volume. Take a look at the shape of today's bar though. It's got a hammer shape, with an open at the high, a deep low, and then a bounce back to the high. This suggests MAKO Surgical Corp. flushed out the last of any would-be sellers (the volume spike confirms a bunch of people were jumping out today), and then just a few minutes later - when the tide turned to a net-bullish one - the stock started to rally again. This is the pivot, or that key capitulation day where things are as bad as they're going to get. It happened at about 9:45 am EST today.
Can MAKO Jump Again? Find Out Here
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