Marijuana Company of America Inc (MCOA)

[ColoKid]

Head and Shoulders or a retest of $.05?

Ok so we're either in for another test of $.05 or we're forming a head and shoulders pattern.

All the signs are actually pointing toward H&S (declining RSI, declining Volume, an almost dead on chart except for the blip to $.049 we had on Monday)

However, the 2.5 month "uptrend" leading to this head and shoulders really hasn't been anything extraordinary. So I'm holding.

The 50dma and the support trendline (and possible H&S neckline) I drew are fairly even so I'll be using those as my stop for now.

Ideally we get another 2.5 - 3 million shares traded tomorrow with a retest of the $.05; that will atleast squelch my gut to call this a H&S... unless of couse the right should is just shrugging!