Posted On: 10/28/2013 12:11:33 AM
Post# of 2561
MDMN Daily Chart ~ Another Successful Swing Trade as We Await a Reset of the Chart
As mentioned previously, the very large volume day of 12 mil shares just over a week ago, proved to be the signal to once again take some profits. Although not outside the upper bollie, as triggered previous exits, the extremely large volume at the high of the latest swing suggested either dilution, shorting, or a lot of retail selling. It was probably a combination of the three. The subsequent crossovers to the downside of the FullSto and MACDs confirmed the sell signal. Rumors of a mining deal coming soon (never mind that those rumors have persisted for many years) might help to support the stock from declining to previous lows in the .03s and .04s. The MA50 at .0566 will probably be the low point this time around. We shall see.
As mentioned previously, the very large volume day of 12 mil shares just over a week ago, proved to be the signal to once again take some profits. Although not outside the upper bollie, as triggered previous exits, the extremely large volume at the high of the latest swing suggested either dilution, shorting, or a lot of retail selling. It was probably a combination of the three. The subsequent crossovers to the downside of the FullSto and MACDs confirmed the sell signal. Rumors of a mining deal coming soon (never mind that those rumors have persisted for many years) might help to support the stock from declining to previous lows in the .03s and .04s. The MA50 at .0566 will probably be the low point this time around. We shall see.
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