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, closing 2/22/08
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 upside
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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Three Part
Technical Chart
Daily Candle Stick Chart
Point & Figure Chart
Technical Study
View full size chart
Price Objective:
$67.50
Risk/Reward:
$2.50 VS. $11.75
Risk/Reward Ratio:
5:1
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