MDMN Daily Chart ~ Still Trending Just Above the S
Post# of 2559
Posted On: 03/10/2014 12:23:00 AM
MDMN Daily Chart ~ Still Trending Just Above the Support Line of .04
I haven't re-entered MDMN yet. Not sure if I ever will unless management finally closes that elusive 17 year ADL deal. Eventually they will close it, right? I'd rather buy into a successful conclusion as the stock obviously isn't believing it's coming anytime soon. In previous years, MDMN would run to the .15-.19 levels in anticipation of a joint venture. Today the stock can't even get past the .05-.07 level. Like I've mentioned often over the last year, I wished I had swing traded MDMN over the years. Could have made a small fortune swinging instead of dreaming. All part of the multi year learning curve and I continue to learn more daily. As for the technicals and chart, one can see the sideways trading at the support of a previous low set back in August near .04. The chart has nothing to excite me at the moment but it is interesting watching the basing pattern over the last few weeks. A close over .05 would signal that maybe, just maybe, there's a deal closing. If one links back to my posts regarding the huge volume day in mid October, that was clearly a day when a shitload of stock was sold and the high of that day, .0709, hasn't been seen since. Someone must have decided to bail while the rumors were screaming deal done. MDMN on watch for a lot of friends still holding and praying. GLTA
I haven't re-entered MDMN yet. Not sure if I ever will unless management finally closes that elusive 17 year ADL deal. Eventually they will close it, right? I'd rather buy into a successful conclusion as the stock obviously isn't believing it's coming anytime soon. In previous years, MDMN would run to the .15-.19 levels in anticipation of a joint venture. Today the stock can't even get past the .05-.07 level. Like I've mentioned often over the last year, I wished I had swing traded MDMN over the years. Could have made a small fortune swinging instead of dreaming. All part of the multi year learning curve and I continue to learn more daily. As for the technicals and chart, one can see the sideways trading at the support of a previous low set back in August near .04. The chart has nothing to excite me at the moment but it is interesting watching the basing pattern over the last few weeks. A close over .05 would signal that maybe, just maybe, there's a deal closing. If one links back to my posts regarding the huge volume day in mid October, that was clearly a day when a shitload of stock was sold and the high of that day, .0709, hasn't been seen since. Someone must have decided to bail while the rumors were screaming deal done. MDMN on watch for a lot of friends still holding and praying. GLTA
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