Posted On: 12/23/2013 6:56:24 PM
Post# of 2561
MDMN Daily Chart ~ Always Pay Attention to the Technicals and Charts
Technical trading might not be perfect, but it sure is a necessary tool for every trader, especially in story stocks. The MA200 was violated early on today, and the result was another MDMN drop. Although the stock closed above the first support line, the increased red volume is not a good sign. We saw a very short positive divergence two week ago, but that was negated last week with renewed selling. I would suggest you link back to the huge sell day I mentioned back in October. As the stock was hitting new 9 months highs, someone decided to dump over 10 mil shares that day. Someone in the know or just a pure coincidence that the stock would be drifting down with still no deal in hand. The 17 years drama continues. I will enter MDMN again when the chart shows money flow coming back into the stock and not out. GLTA
Technical trading might not be perfect, but it sure is a necessary tool for every trader, especially in story stocks. The MA200 was violated early on today, and the result was another MDMN drop. Although the stock closed above the first support line, the increased red volume is not a good sign. We saw a very short positive divergence two week ago, but that was negated last week with renewed selling. I would suggest you link back to the huge sell day I mentioned back in October. As the stock was hitting new 9 months highs, someone decided to dump over 10 mil shares that day. Someone in the know or just a pure coincidence that the stock would be drifting down with still no deal in hand. The 17 years drama continues. I will enter MDMN again when the chart shows money flow coming back into the stock and not out. GLTA
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