The chart says the next level of major support is between $5 and $6. I say it is not worth buying until $5 now. There are millions wanting out of this stock now. So much overhead resistance that all rallies will be sold until a hard bottom of $5-$6 is put in.
It will hold the $5's but it's going there I think for sure...
This is dead money for a good year now I think. I think in 2013 this will be back in the teens so if your a long term holder you will be fine.
Good luck you all.
Which chart? What are you talking about?
CMED has never been below $7,23 (as today). This price is not the result of fundamentals but pure, filthy speculations.
And how the hell do you know that there are "millions wanting out of this stock"? CMED is extremely oversold at this moment with RSI at only 12,33 (normal RSI is between 30 and 70)
http://finance.yahoo.com/q/bc?s=CMED&t=1y&l=on&z=l&q=l&c= The stock had huge buying at 7.25 the very bottom. This stock is a lot better stock then this TA shows. http://finance.yahoo.com/q/bc?s=CMED&t=1y&l=on&z=l&q=l&c=
I thought the last half of the session it held pretty well. If you looked at level 2 quotes, the bulls were a bit hungry and sellers were not desperate. Not like short sellers, but more like the day traders unloading their small shares at the end of the day as high as possible.
However, if there is fraud, no technical analysis holds.