Stocks on Fire

RITA is a beautiful girl

By David Randolph · July 26, 2005 · 2 min read · 855 views

RITA Medical Systems develops (RITA), manufactures and markets innovative products for cancer patients including radiofrequency ablation (RFA) systems for treating cancerous tumors as well as percutaneous vascular and spinal access systems. The Company's oncology product lines include implantable ports, some of which feature its proprietary Vortex(R) technology; tunneled central venous catheters; safety infusion sets and peripherally inserted central catheters used primarily in cancer treatment protocols. The proprietary RITA system uses radiofrequency energy to heat tissue to a high enough temperature to ablate it or cause cell death. In March 2000, RITA became the first RFA Company to receive specific FDA clearance for unresectable liver lesions in addition to its previous general FDA clearance for the ablation of soft tissue. In October 2002, RITA again became the first company to receive specific FDA clearance, this time, for the palliation of pain associated with metastatic lesions involving bone. The RITA Medical Systems website is at www.ritamedical.com.

Here's the all history chart, where we can see $2.5 is a strong support for the stock:

And the medium term chart where we have a bullish breakout:

The trend now is bullish on RITA and volume confirms the price action. Results will be released on August 9. I don't see any news attached to the move, which is a good thing, probably those positive news will come out in the near future Wink

There were some reports on CNBC about very strong insider buying on RITA's shares. I bet earnings will be a positive surprise.

I've decided to buy RITA at the open for the 3 Stocks on Fire Portfolio.

3 Stocks on Fire Community take on RITA

This analysis is part of Top 5 Stocks for Tuesday, conducted by David Randolph from 3 Stocks on Fire. He's looking for interesting charts and after DD he might consider this stock to be bought for the 3 Stocks on Fire Portfolio. David Randolph is managing a public and diversified portfolio which is up 144% since May 2005.

www.3stocksonfire.org is a traders and investors new Community growing everyday, with 2368 registered users in just about 2 months. We exchange great trading strategies and stock picks everyday on our boards. If you want to join our Community and receive a free newsletter, please register.

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RITA is a beautiful girl

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