Harry Aloof
02-26-2008, 05:21 PM
From Wall Street Trader's Column (http://18004wallstreet.com/hotoffticker/goto.cfm?userid=72&banid=6&price=0&ipadd=70.49.60.219&type=banner&aff_type=S&hotoffticker=0)
CHINA MEDICAL TECHNOLOGIES (CMED-Nasdaq): Technical Viewpoint: From a low of $39.78 on Dec 18, 2007 prices rallied, reaching a high of $54.30 on Jan 14, 2008. A decline saw prices pull back, reaching a low of $40.99 on Jan 22, 2008. Another rally saw prices penetrate resistance line "A", closing yesterday at $55.33. Technicals: MACD Index (MACD): A Buy Alert! was given on Feb 14, 2008 when the solid line crossed the dotted line to the upside. Support: Remains at $49.00. Resistance: Is at None at current levels. Point & Figure: Reversed to the upside on Feb 22, 2008. A P&F downside reversal takes place at $52.00. Summary: Technical indicators have turned bullish. BUY! CHINA MEDICAL TECHNOLOGIES (CMED-Nasdaq) @ $55.75 Stop: Use a protective stop of $53.25. CHINA MEDICAL TECHNOLOGIES is currently trading @ $55.33 plus $3.18 on Feb 22, 2008.
Price Objective: $67.50
Risk/Reward: $2.50 VS. $11.75
Today's Risk Reward Ratio: 5:1
http://18004wallstreet.com/images/charts/Chart2256-lrg.gif (http://18004wallstreet.com/hotoffticker/goto.cfm?userid=72&banid=6&price=0&ipadd=70.49.60.219&type=banner&aff_type=S&hotoffticker=0)
CHINA MEDICAL TECHNOLOGIES (CMED-Nasdaq): Technical Viewpoint: From a low of $39.78 on Dec 18, 2007 prices rallied, reaching a high of $54.30 on Jan 14, 2008. A decline saw prices pull back, reaching a low of $40.99 on Jan 22, 2008. Another rally saw prices penetrate resistance line "A", closing yesterday at $55.33. Technicals: MACD Index (MACD): A Buy Alert! was given on Feb 14, 2008 when the solid line crossed the dotted line to the upside. Support: Remains at $49.00. Resistance: Is at None at current levels. Point & Figure: Reversed to the upside on Feb 22, 2008. A P&F downside reversal takes place at $52.00. Summary: Technical indicators have turned bullish. BUY! CHINA MEDICAL TECHNOLOGIES (CMED-Nasdaq) @ $55.75 Stop: Use a protective stop of $53.25. CHINA MEDICAL TECHNOLOGIES is currently trading @ $55.33 plus $3.18 on Feb 22, 2008.
Price Objective: $67.50
Risk/Reward: $2.50 VS. $11.75
Today's Risk Reward Ratio: 5:1
http://18004wallstreet.com/images/charts/Chart2256-lrg.gif (http://18004wallstreet.com/hotoffticker/goto.cfm?userid=72&banid=6&price=0&ipadd=70.49.60.219&type=banner&aff_type=S&hotoffticker=0)