Medient Studios Inc. (fka MDNT)

[Dr PennyStock]

MDNT annotated daily chart including supports and resistances.

Analysis: The stock has already given several buy signals in the latest weeks, as I pointed on my previous annotated charts, but, today has given the biggest buy signal, it has broken the down trend line, closing above it for the first time in 7 months.

The RSI is only beginning to turn up, not even in the MOMO zone(50 - 70), so the fun just began. The top of the RSI is 90, until there, the stock has room for a run to .05 - .06.

The MACD is at the right point, as I said before, this is where all the big runs begin, at or near 0, as it has already crossed to positive, it is ready to run.

Finally the ADX, you know that I give much importance to the +DI and -DI movements, well, today the +DI crossed up the -DI, this is a strong buy signal for me, the ADX line is still going down, almost at the bottom, as this line represents the strength of the trend, and, is at the bottom, it means the down trend was very weak, I've also talked about this here several times, and, today was the confirmation that it was weak, so weak that was broken, so since today the stock is NOT anymore in a down trend.

If it is not in a down trend anymore on the daily chart, and, as the down trend was so violent, the bounce will be also very violent, compare this with an elastic, if you take an elastic and hold an extremity with one hand, and, pull the other extremity with the other hand, as much you pull it, as faster and far it will go when you lift it, this is the same principle with charts, that's why I love to trade charts with strong down trends like this, because I make lots of money with them.

I will sell at .19 - .35 in a few weeks.

Daily chart


All my previous annotated charts:

01-11-2014 - http://investorshub.advfn.com/boards/read_msg.aspx?message_id=95829019

01-27-2014 - http://investorshub.advfn.com/boards/read_msg.aspx?message_id=96394517

02-05-2014 - http://investorshub.advfn.com/boards/read_msg.aspx?message_id=96864303

02-06-2014 - http://investorshub.advfn.com/boards/read_msg.aspx?message_id=96912721

02-11-2014 - http://investorshub.advfn.com/boards/read_msg.aspx?message_id=97143943

02-12-2014 - http://investorshub.advfn.com/boards/read_msg.aspx?message_id=97213207

02-18-2014 - http://investorshub.advfn.com/boards/read_msg.aspx?message_id=97466858

02-24-2014 - http://investorshub.advfn.com/boards/read_msg.aspx?message_id=97773984