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Registered User
Joined: 4/18/2005
Posts: 4,090
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seems like it wants to move up from here. to me.
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Registered User
Joined: 12/2/2004
Posts: 1,775
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Hard for me to get a handle on its chart. Price seems to be in the mid to slightly upper range of a 6 mo. descending channel. Not picture perfect but I'm looking at a channel that started in early Nov. 06. For the lower line I started at the low of 11/2 (or low of 11/28) and extended it to the low of 3/29 and on to current date. Note the lower lows all long the bottom trend line. For the upper line I started at highs of 11/14 and connected to highs of 2/21 and on to current date. Note the lower highs. Volume has been basically dull and quiet past two months, but I note the last significant higher volume to be of the down red kind (late Feb/early March). Since then price has crept up to current level but on unimpressive volume. Fundamentally IBD gives it high marks across the board overall...nice earnings, sales, profit margins. Its industry group is fine too, an overall A- rating for relative price strength, but CMED trails the leaders in that group by a pretty wide technical margin (#40 of 101). After this little excercise I would pass on it unless volume and price start to increase significantly to upside.
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Registered User
Joined: 12/2/2004
Posts: 1,775
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I forgot to mention that I like the fact that price has reclaimed the 50 and 200-day moving averages, barely. Institutions tend to cue off of one or both or those averages, so maybe the big boys will step up in near future. The negative I alluded to above (the high red volume late Feb/early March) may have been a last shakeout of weak hands???
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Registered User
Joined: 1/29/2005
Posts: 104
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CMED may be heading up now. It crossed the 50ma in the middle of April, came down to the 20ma support and up from there. It should test the last high (mid April) and go up from there. Stochastics allow for plenty of growth upward.
Good stock.
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