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02-26-2008, 06:21 PM
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China Medical Technologies (CMED) - February 25, 2008
From Wall Street Trader's Column
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 
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| harry aloof, stock pick, wall street column, weekly stock pick |
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