Kensey Nash Corporation (KNSY $28.13) is a high-ranked leader in the Medical-Products group. The company designs and manufactures products for the orthopedics, cardiology, general surgery and wound care markets.

After announcing strong earnings KNSY traded to new highs (see green line) on Thursday, but it ended the session 4 cents lower. Days with high volume and lack of price progress can be worrisome in that they suggest that plenty of willing sellers are offsetting a decent amount of buying coming in. Still, it is not uncommon to see higher than average volume after an earnings announcement.  

KNSY's current quarterly financial comparisons (C in CANSLIM) show an impressive earnings growth rate acceleration. For the December '02 quarter earnings were +45% ($0.16 per share versus $0.11), March '03 was +89% ($0.17 versus $0.09), June '03 was +131% ($0.30 versus $0.13).

Chart-wise it is easy to see where one would want to seriously consider a stop loss near critical support that has been established by prior lows near $25.00 (and the 50-day line). Don't ignore any technical violation there, particularly on higher volume. 

Shares Outstanding - 10.8 Million  | 50-Day Avg Vol - 159,300
Prior 4 Quarterly earnings % Change: +44%;+45%;+89%;+131%

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