Medinah Minerals (MDMN)

[Ex Blockman]

Hey Spy

For those that use the technicals and charts, they would have been out of the stock in mid August due to the candles being outside the upper bollie, the RSI in the nose bleed zone of 70+, along with the FullSto and MACDs also in overbought territories. As almost always occurs when the indicators get in and above their respective overbought levels, it's time to pull a few off, if not all. I constantly circle the entries and exits for those that can't quite get it without a picture pop-up book.

A swing trader would have been accumulating a few this last week, as the same indicators above have trended down into oversold conditions. At this moment in time, one can see the support line at .01, the RSI is in an upward trend, and the FullSto and MACDs are crossing over into a positive divergence. If I was interested in establishing another swing trade in MDMN, it would be in this .01-.011 area, annotated by the green, horizontal support line. The red horizontal lines are resistance points. Additionally, Friday saw the stock close above its MA20 for the first time almost a month. Currently, for me and a few friends, other stocks are more attractive and enticing than MDMN.