Blood-transfusion leader Immucor (BLUD) introduced Geoffrey S. Crouse as the company's new Vice President and Chief Operating Officer. Crouse will have worldwide responsibility for manufacturing and distribution in the new position, he will also be responsible for marketing and customer service. In his previous position at Millipore Corporation, Crouse led the Life Science Strategic Business Unit - helping improve manufacturing operations, leading acquisitions, all the while increasing sales and profitability.Crouse brings an impressive list of leadership criteria to BLUD, but can it help the company? First things first, if you are not familiar with Immucor, the company deals in blood (hence the clever ticker BLUD, who said financial minds don't have a sense of humor?). BLUD makes and sells reagents and systems used in the healthcare field to detect and identify certain properties of blood before a transfusion. This is a very specialized field, and BLUD is a leader - meaning that there is always going to be business for the company. That said, the stock's performance is less than inspiring. The equity's near-term high was set in October 2007 when the stock peaked at $39.96. Since then, the equity has plunged and is currently trading in the $14 region. The shares face overhead resistance in the form of their 10-, 20-, and 50-week moving averages. This trio has pushed the stock lower, with the 10-week moving average providing the most immediate resistance.
If the stock were able to advance through its 10-week trendline, it would face another hurdle at the $15 level. It is hard to determine if the stock will find resistance here, as it has been some time since BLUD traded this low. The shares currently have momentum - unfortunately it is downward momentum and it certainly appears that this is the direction in which the stock will continue to move.
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