Published on Mon, 09/12/2011 - 11:58
By Adrienne Chilton in Moving average crossovers, MR, mindray medical international, moving crosses, nyse:mr

Mindray Medical International (NYSE:MR) shares have crossed bearishly below their 10-day moving average of $25.04 on a volume of 116K shares. Swing traders may find an opportunity for a short position, as such a crossover often suggests lower prices in the near term.

Mindray Medical International share prices have moved between a 52-week high of $31.23 and a 52-week low of $21.25 and are now trading 17% above that low price at $24.89 per share. Over the last five market days, the 200-day moving average (MA) has gone down 0.2% while the 50-day MA has declined 0.6%.

Mindray Medical International (NYSE:MR) has a potential upside of 22.9% based on a current price of $24.89 and analysts' consensus price target of $30.60. Mindray Medical International shares should first meet resistance at the 50-day moving average (MA) of $25.38 and find additional resistance at the 200-day MA of $26.67.

Mindray Medical International Limited develops, manufactures, and markets medical devices. The Company offers patient monitoring devices, diagnostic laboratory instruments, and ultrasound imaging systems.