Mindray Medical (MR) is up almost 6% today on volume about 300% larger than the average as it trades near new all-time highs.
The stock was highlighted a couple weeks back in a post titled China’s Mindray Medical Intl. (MR).
This is what I was thinking when I wrote the analysis:
What catches my eye the most about this stock is the number of shares bought and sold during the most recent reporting period! The buy to sell ratio is 39-to-1 which represents institutional accumulation in my opinion and I get warm and fuzzy when these professional buyers support a stock I own (disclosure: I do own shares prior to writing this post). The amount of fundamental data is limited on the young Chinese company but I have listed what I can find using a variety of sources (Yahoo giving me the most data).
Looking at the chart, we can see that the stock is gaining support along the 50-day moving average and is within 15% of a new all-time high (set back in December 2006 at $27.20). The weekly chart shows a flat base that has been forming over the past seven weeks with potential for an up-side breakout. A 200-d m.a. has not formed at this point in time but will be valuable in the future. Overall, I like this young stock and I like the market it comes from.
Yes I do own shares and this is why:
Institutional Numbers:
Money Market: 21
Mutual Fund: 75
Other: 4Shares Bought Last Period: 6.4 million
Shares Sold Last Period: 0.2 million
Value of Shares Bought: $156.4 million
Value of Shares Sold: $4.9 million
Appreciated your comments on MR. I read and study your blogs each day as they are released. FWIW! I found you via a link from stockbee’s blog.