Tuesday, April 21, 2009

CMED Has Potential

Medical device manufacturers seem to be bouncing back from their recent lows. China Medical Technologies, Inc. (CMED) shows good signs for a near to longer term upswing.

CMED is a medical device company engaging in the development, manufacture and sale of medical devices and supplies in China.

Positive signs are:
  • Reaching a new three month high.
  • Sustained break above the 50 day moving average.
  • Adequate average daily volume (509,000).
  • Sizable management ownership.

CMED trades today at 19.81 and looks like a good prospect for future profits.