MDMN Daily Chart ~ The Negative Trending Continues
Post# of 2561
Posted On: 01/01/2014 10:23:33 PM
MDMN Daily Chart ~ The Negative Trending Continues
I've received a few requests for MDMN and if it's time to re-enter. I still not in MDMN after our last swing trade and exit on that huge volume day in mid October. That was either continued dilution, a large shareholder or two moving on or simply smart trading. It doesn't matter to me nor should it matter to anyone following the technicals on this stock. As I mentioned previously, if MDMN broke under its MA200, the stock would first attempt to find some support at .047/.048. So far that is what has happened. Should the .047 not hold, my next two logical support levels are the prior lows of .044 and .0385. Maybe the stock can pop a bit now that yearend tax selling is over. But barring any news on the 17 year wait on a JV or sale of the ADL, the stock will continue to drift. I've circled the crossovers for you which has told the story of MDMN's trading for months. Although the FullSto and MACDs are in oversold territory, I need more than rumors of a deal before re-entering. Oh how I wished I had swing traded MDMN for years as some of my friends did. Hoping this one finally does well for all the many friends in the stock for years and years. GLTUA!!
I've received a few requests for MDMN and if it's time to re-enter. I still not in MDMN after our last swing trade and exit on that huge volume day in mid October. That was either continued dilution, a large shareholder or two moving on or simply smart trading. It doesn't matter to me nor should it matter to anyone following the technicals on this stock. As I mentioned previously, if MDMN broke under its MA200, the stock would first attempt to find some support at .047/.048. So far that is what has happened. Should the .047 not hold, my next two logical support levels are the prior lows of .044 and .0385. Maybe the stock can pop a bit now that yearend tax selling is over. But barring any news on the 17 year wait on a JV or sale of the ADL, the stock will continue to drift. I've circled the crossovers for you which has told the story of MDMN's trading for months. Although the FullSto and MACDs are in oversold territory, I need more than rumors of a deal before re-entering. Oh how I wished I had swing traded MDMN for years as some of my friends did. Hoping this one finally does well for all the many friends in the stock for years and years. GLTUA!!
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