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Cardiac Science: (NASDAQ: CSCX): Seller out of the Way Here?

Technical Analysis always tells me much more about a stock than talking to the company, and that is no dis to the company, it is more of a testament to recognizing washed out bottoming stocks once you see a capitulation. I recall trading Soybeans in Chicago and watching (the opposite effect) where a top was put in the Soybeans during a drought after they had been limit up for many days. The market finally capitulated at the top and all the buyers were out of the way, the shorts had covered and run for the door and volume was at an extreme level. It was an irrational panic top during a drought period.

Stocks often behave this way and the technical patterns for bottoms and tops always have this capitulation action. I think we need more time to watching the bouncing action in CSCX here but it looks suspiciously like someone threw in the towel and a seller is finished and out.

Below is some recent product news from a recent PR.

(Nasdaq: CSCXX), a global leader in automated external defibrillator (NYSE:AED) and diagnostic cardiac monitoring devices, today announced the introduction of two new products that extend its market-leading position in the cardiac stress test category.
“Hospitals and physician clinics are challenged by a lack of space for diagnostic equipment,” said Tony Titus, Cardiac Science vice president of marketing. “The unique design, compact footprint, and wireless capabilities of the Quinton 9500 Series allow clinicians to perform stress testing conveniently and in a greater variety of settings.”
Revolutionary designs optimize space and allow stress testing in a greater variety of settings. Both the Quinton 9500 (a unique wall-mounted cabinet) and the Quinton 9550 (a mobile cart with ample storage space) feature small footprints and fully integrated components.
Wireless data acquisition delivers safety, comfort, and confidence to patients and staff. A modern user interface facilitates fast and efficient work-flow and reduces training needs. The one-button navigation and optional touch screen make the Quinton 9500 Series intuitive to learn and use. Advanced connectivity assures easy and convenient management of patient records. Physicians can read, analyze, and confirm patient tests from anywhere with a secure internet connection. While no EMR is required to view data with CareCenter MD, records can be easily transferred to an EMR if desired. “The Quinton 9500 series is our second major new product introduction in the stress category this month,” said Dave Marver, Cardiac Science president and chief executive officer. “We will continue to extend our leadership position in diagnostic cardiology with additional new products as the year progresses.”
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