CHINA MDICAL TECHNOLOGIES
(CMED-Nasdaq):
Technical Viewpoint: From a low
of $27.35 on Aug 6, 2007 prices
rallied, reaching a
high of $33.80
on Aug 13, 2007. A
decline saw prices pull back, reaching a
low of
$27.46 on Aug 16, 2007.
Another rally saw prices penetrate
resistance, closing 9/14/07
at $38.59. Technicals: MACD Index (MACD): A Buy Alert!
was given on Aug 26, 2007 when the solid line crossed the dotted line to the upside.
Support: Remains at $32.00. Resistance: Is at None at current levels.
Point & Figure: Reversed to the upside on Aug 30, 2007. A P&F upside
reversal takes place at $36.00. Summary: Technical indicators have turned bullish. BUY! CHINA MDICAL TECHNOLOGIES
(CMED-Nasdaq) @ $39.13 Stop: Use a protective stop of $37.13.
CHINA MDICAL TECHNOLOGIES is currently trading @ $38.59 plus $2.49 on Sep 14, 2007. Price Objective:
$48.40. Risk/Reward: $2.00 VS. $9.37. Today's Risk Reward Ratio: 5:1
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