MDMN Daily Chart......... Nothing New With the Technicals
There really isn't much to point out since my MDMN chart of Feb 21. I will continue posting on MDMN simply because my friends and I are heavily invested in MDMN. This has been one of the toughest investments for me in the penny markets because of the potential once the company is finally funded, and the drill program in underway.
The share price remains to hold onto the gradually rising support line (blue) after declining for months. The stock attempted to breakout above the multi month declining tops line in Jan. When that failed, a new declining tops line began. The stock broke above that one last week but so far there's been no follow through. A tight trading range of .0605-.069 has been in place for just over one week. As to the technicals, they've been wandering in slightly negative levels in a sideways channel for weeks. Simply stated, the company needs that funding and the drill program to be executed. In the meantime, for those with a mid term holding period, the .06s for MDMN will probably prove out to be the bottom for quite some time to come. As I've mentioned previously, MDMN, imo, is worth investing in especially at these prices. When the anticipated events occur, I do expect a sharp move to the upside, possible into the .20s or .30s. GLTA
