Medical Product Stock Setups
What industry group has recently emerged from the fog? None other than Medical Products. These stocks have been taken interest by institutional investors, and while I am not as inclined to say a new trend is emerging, there are some great stocks to add to a watch list.
Four stocks to feature right now, take a good look.
Thoratec Laboratories (THOR). Trending sideways between $27 and $29 would be good for THOR at this point. No need to rush art.
CryoLife (CRY). The stock has nearly doubled since bottoming at $7.60 earlier this month. Looks like $15 will stand as resistance for now and rightfully so after a runup like that..
NuVasive (NUVA). Just one to watch, some noticeable accumulation in the last few weeks but as bullish as I want to be these continuation patterns typically lead to lower prices in the end.
ICU Medical (ICUI). Give this stock some time and it may setup a very nice bull flag. Two of the last three sessions have been heavy accumulation days, beautiful.
These are all setups, not buy signals. In this market there is no point in buying anything until you get a great setup. Cash is still king.
A bull flag on ICUI would be a pretty site to see, nice research!
Hey Blain saw that you were mentioned on thekirkreport yesterday, nice going!
It looks like my post didn’t take – I may have fat fingered it. Forgive the duplicate. Again.
Thor has a great cash flow:earnings ratio as well, which is attractive in this market.
I would look for ICUI to receive support around $32 – $33 if its going to set anything up.
Definitely have to like THOR in this situation. What worries me more is the market, I would say any new positions be very short term and hold overnight with extreme caution. I enjoy being 100% cash.
No Bard??
StockJunkie – the other issue is, obviousness. With so few plays working, everyone of us is chasing the same nickel. We are all scared little lemmings who will sell at the first sign of any trouble. Guess what happens when we all decide to sell at once??